50 ideas to fix Michigan
Jump to full article: Detroit (MI) News, 2009-11-05
Author: Source: Mackinac Center for Public Policy
Intro: Idea 32: Stop stealing from future taxpayers by mortgaging the tobacco lawsuit settlement money.
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Benefits: Those three trips to the tobacco lawsuit loan window are responsible for about $80 million in annual debt service payments. That money is not available for government services, including revenue sharing for communities, college scholarships and certain Medicaid programs. Stopping this practice would free up money for higher budget priorities.
How: The best solution might be a ballot initiative to remove any ambiguity in the state constitution's balanced budget provisions. Publicizing this practice might shame lawmakers into stopping it.
Obstacles: Lawmakers prefer to spend but fear asking current voters to pay more, thinking it is better to stiff future taxpayers.
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