Thursday, February 24, 2011

Senate Passes Constitutional Amendment to Limit State Spending

State Senate Majority Leader Chip Rogers (R-Woodstock) introduced Senate Resolution 20 - “Taxpayer Protection Act of 2011” in late January. The proposed Constitutional Amendment would limit the growth in state Government. Today, the resolution passed through the Senate with overwhelming bi-partisan support.

“The citizens of Georgia have a right to say ‘how much is too much’ when it comes to state spending. This Amendment would be the very best tool we have to ensure government does not spend beyond its means,” said Senate Majority Leader Chip Rogers. “Once enacted Georgia taxpayers can expect our state to eventually refill the rainy day fund and begin to gradually eliminate the state income tax.”

The resolution has garnered enormous support from many advocacy groups such as the National Federation of Independent Businesses, Americans for Tax Reform and the National Taxpayers Union. Kyle Jackson, the NFIB State Director said, “SR 20 not only protects the taxpayer from unsustainable accelerated growth in state government but it also contains language to help rebuild budget reserves and even give back to the taxpayer in the form of income tax cuts.”

Senate Resolution 20 would restrict the state from spending any money in excess of the previous year budget adjusted for inflation and population. Any additional revenue beyond the spending limitations would be required to go into the Rainy Day fund until it reaches a point of 15% of the previous year spending. Once the rainy day fund is at 15%, additional revenue would be used to slowly phase-out the state income tax.

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