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For Immediate
Release
4/04/07
CONTACT:
Nate Silcox
(717) 787-6063
Senator Regola: Taxpayer Protection Act Website Unveiled
A website dedicated to
the
Taxpayer Protection Act is now up and running, according to State Senator
Bob Regola (R-39), prime sponsor of legislation to limit the growth of state
spending. News, charts and video about setting fiscally responsible limits on
state government spending are available.
"The Taxpayer
Protection Act is a simple concept -- government should live within its
means," said Sen. Regola. "If state government does not control
spending now, the Commonwealth could face serious fiscal issues in the
near future. I would encourage citizens to visit this website to find
out more about this important issue."
Senate Bill 7
would amend the Pennsylvania Constitutional by limiting state spending
to the average inflation rate plus the average percentage change in
state population over the three preceding years. For FY 2007-08, the
Taxpayer Protection Act would limit increases to 3.2 percent. Senator
Mike Folmer (R-48) has introduced a companion measure, Senate Bill 707,
which would codify the Taxpayer Protection Act into law.
"Governor
Rendell's budget is a dramatic example of why we need to control
spending," said Regola. "If the Taxpayer Protection Act were in place,
there would be no need to raise $2.5 billion in new revenue through
seven tax increases like the Governor has proposed."
In addition to
the spending limits in the Taxpayer Protection Act, the proposal also
sets realistic restrictions on the use of any unanticipated revenues
received by the Commonwealth. Specifically, 75 percent of any revenues
exceeding the spending limits imposed by the bill would be returned to
the taxpayers. The remaining 25 percent would go directly into the
Rainy Day Fund to help the Commonwealth cope with unanticipated revenue
shortfalls.
Senator Regola's
home page,
senatorregola.com, also contains a link to the Taxpayer Protection
Act website.
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