Tuesday, February 8, 2011

Senator Chance Co-Sponsors “Taxpayer Protection Act”

State Senator Ronnie Chance (R-Tyrone) has Co-Sponsored Senate Resolution 20 - “Taxpayer Protection Act of 2011.” The proposed Constitutional Amendment would limit how many tax dollars the state of Georgia can spend in any given year.

“This measure will guarantee that Georgia never over steps its bounds when spending the taxpayer’s money. The Taxpayer Protection Act is the responsible thing to do. This legislation will protect the taxpayers and force legislators to keep spending in check,” said Senator Ronnie Chance.

“Senator Chance understands that the money we spend in government is not ours, it’s the taxpayers. He also understands that we need to keep government the size it needs to be. The Taxpayer Protection Act will protect future generations of Georgians from government growing too large,” said Senate Majority Leader Chip Rogers, the sponsor of the Resolution.

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.

The Amendment was approved Wednesday by the Senate Finance Committee in a unanimous bi-partisan vote.

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