ND Americans For Prosperity Pushing for Tax Cuts in North Dakota
I found this blog post of great interest and wanted to share it with my followers.
This past week, 15,677 signatures were filed with the North Dakota Secretary of State’s office for the Income Tax Cut Inititiave. Sponsored by the North Dakota chapter of Americans for Prosperity, the initiative, if certified for the November ballot, would slash North Dakota’s state corporate income tax rates by 15 percent and the individual income tax rates by 50 percent starting in 2009.
Apparently, North Dakota exepcts a budget surplus of anywhere between $700 million to $1 billion next year, so supporters of the initiative are looking for both tax relief and restrained government spending during these “sunny days.” Smart!
But the AARP is opposing the measure because “it would hamper state and local governments’ and school boards’ ability to respond to emergencies or shifting priorities in the future.” The North Dakota Farm Bureau is also opposing the measure citing “worries that it would place the burden of spending on increased property taxes.” Now maybe North Dakota should start a government “rainy day fund” that is concomitant with this tax cut, but it’s amazing what poor excuses are made to not cut taxes. (But I invite any North Dakotans to explain why voting Yes on this inititiave would be a bad idea.)
