|Posted:||December 3, 2012 10:44 AM|
|From:||Senator Mike Folmer|
|To:||All Senate members|
|Subject:||Taxpayer Protection Act (Previously SB 7)|
December 3, 2012
TO: All Senators
FROM: Senator Mike Folmer
SUBJECT: Co-Sponsorship : “Taxpayer Protection Act”
I plan to reintroduce my “Taxpayer Protection Act”, which was previously Senate Bill 7, cosponsored by:
Vogel, Robbins, Erickson, Orie, Scarnati, Piccola, Argall, Rafferty, Smucker, Vance, D. White, M. White, Alloway, Boscola, Pippy, Brubaker, Gordner, Waugh, Mensch, and Earll
This legislation would reasonably limit – not reduce – the growth of state spending through the lower of the following thresholds:
The “Taxpayer Protection Act” would also require 75% of any moneys in excess of these limits be returned to the taxpayers and 25% be allocated to the Rainy Day Fund to help balance state budgets during trying economic times.
According to the Mercatus Center of George Mason University, 28 states have spending controls, revenue controls, or both – either by statute or as part of their respective state constitutions. Pennsylvania is in the minority of states having no controls.
Introduced as SB7