🚀 go-pugleaf

That's not a "Rainy Day" amendment - it's a spending limit amendment.  And
Oregon already has written into its constitution that excess revenues HAVE
to be returned to the taxpayers.

The backers of your Spending Limit amendments are lying - and you are
complicit.

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"Paul J. Berg" <pjberg@webtv.net> wrote in message
news:2780-44EC701C-131@storefull-3237.bay.webtv.net...


Colorado's TABOR amendment is actually quite different from the proposed
Oregon Rainy Day Amendment. TABOR limits growth in both state and local
government revenue. It requires that revenue above the limitation be
returned to taxpayers, which worked well during the economic boom of the
late 1990s, but which put downward pressure on government budgets during
the bust that occurred in the early part of this decade. This so-called
ratchet down effect caused Colorado voters to suspend TABOR for five
years beginning last November.

Oregon's Rainy Day proposal limits not revenue, but expenditures. It
applies only to the state, not to local governments. Revenue collected
above the limitation can either be kept in a rainy day fund or returned
to taxpayers at the legislature's discretion. Oregon's proposal has no
ratchet down mechanism.