Letter to Editor: Common sense: Debt Prevention Amendment and 60% Amendment

Posted 6/24/99

Our Iowa Constitution gives the people an important safeguard: our right t…

By David M. Stanley & Jean Leu Stanley,

Dear Editor,

Our Iowa Constitution gives the people an important …

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Letter to Editor: Common sense: Debt Prevention Amendment and 60% Amendment

Posted

Our Iowa Constitution gives the people an important safeguard: our right t…

By David M. Stanley & Jean Leu Stanley,

Dear Editor,

Our Iowa Constitution gives the people an important safeguard: our right to amend. Iowa voters have amended our Constitution 46 times.

On Tuesday, June 29, Iowans can protect our family budgets by voting for two good Constitutional Amendments.

It’s common sense: stop politicians from spending more than they take in. Make it harder to raise taxes.

The Debt Prevention Amendment limits state spending to 99% of estimated general fund revenue, plus any carryover surplus. It requires a balanced budget, honest accounting (generally accepted accounting principles); and a rainy day fund (10% of revenue) that can be spent only by 60 percent Legislative vote.

In hard times, this rainy day fund will protect education and other services— using savings, not tax increases.

This Amendment puts into our Constitution the key points of Iowa’s good budget reform law. This prevents the state from backsliding into debt and dishonest accounting.

the 60% Amendment requires a 60% vote of both Houses of the Legislature before they can impose any new state tax or raise state income, sales, or use taxes.

This makes tax increases a last resort, requiring a bipartisan consensus.

Thirteen states already have similar Constitutional Amendments. They have slower tax growth, and faster economic growth, than Iowa.

Good for schools. Experience proves this.

The Debt Prevention Amendment protects our children from what happened in Iowa’s 1992 debt disaster: delayed school aid payments, teacher layoffs, forced borrowing. The rainy day fund protects education by saving up money to cover a future shortfall.

States with Constitutional Amendments like Iowa’s 60% Amendment have increased education spending slightly faster than the other states. Controlling taxes brings faster growth— economy, jobs, tax base— more money for schools. And smarter budgeting. When voters put this protection into their Constitution, they tell politicians: set priorities, including good education; and cut waste.

Good for property taxpayers. The Iowa Farm Bureau supports these Amendments because experience proves they will help property taxpayers.

States with Amendments like Iowa’s 60% Amendment have much slower growth of property taxes than states without this protection. When the people amend their Constitution to control states taxes, this sends a message to local governments: control property taxes too.

State debt raised property taxes during Iowa’s debt disaster, because the state underpaid homestead credits. Never again, if we adopt the Debt Prevention Amendment.

Only the Constitution gives permanent protection. Laws are easily repealed or changed. Iowa’s budget reform law will quickly be repealed— or loopholed— whenever politicians want more spending and debt. Let’s put these protections into Iowa’s Constitution— then only a vote of the people could take them out.

Protect the people’s property. Our Constitution protects our freedom of speech and worship. Shouldn’t it also protect our income and property from state debt and runaway taxes?

American democracy rejects majority rule by politicians. Our founders created Constitutional checks and balances to restrain the Legislative majority and protect the people.

Our Iowa Constitution requires a two-thirds Legislative vote to call a special session, override a Governor’s veto, impeach, or pay claims against the state. Our US Constitution requires many two-thirds votes.

More than a bare majority should be required before the Legislature can take more of Iowans’ property by raising taxes.

Our YES votes on June 29 will give all Iowans immediate protection from state debt and higher taxes, beginning July 1.

Polls show 75% of Iowans want both Amendments. We need a big voter turnout for a people’s victory!

If you think politicians should have unlimited power to spend and tax, vote NO. If you want responsible restraint on politicians’ taking of your property, please vote YES.

David M. Stanley & Jean Leu Stanley,

Volunteer leaders of Iowans for Tax Relief