Sen. Bruce Starr: Save-before-you-spend rainy day fund

Bruce Starr2 Sen. Bruce Starr: Save before you spend rainy day fund

Oregon Senate Republicans

State needs forced fiscal discipline and safety net for core services

Salem, OR – Senator Bruce Starr (R-Hillsboro) has again introduced a simple, save-before-you-spend rainy day fund proposal.  Senate Joint Resolution 28 would set aside 3% of income tax collections and lottery revenues at the beginning of every budget cycle to be saved in a reserve fund for use in an economic downturn.

“Funding for schools and state services should be stable, not a roller-coaster that dives or climbs with every twist of the economy,” said Starr. “This bill is elegant and simple, and would safeguard core services while enforcing a common-sense level of fiscal responsibility.”

Oregon’s revenue volatility is well-documented. Those served by core state functions like K-12 classrooms and low-income healthcare are deeply affected when the economy and state revenues decline. Senate Joint Resolution 28 would provide a funding foundation for basic government services by setting aside excess money in the good times. When revenues declined, a safety-net would be in place to keep funding to classrooms and other services stable.

“Deep cuts or tax increases are inadequate solutions to Oregon’s bumpy revenue stream,” said Starr. “The beauty of this proposal is that it helps control government’s appetite to spend while smoothing out the state’s revenue stream. This is the way Oregon families save, and it is the way government should save too.”

A historic simulation based on the parameters of SJR 28 predicts that $2.24 billion would have been saved over the last 30 years.  The savings would have been available at five points to help offset cuts and maintain stability for key services in numerous recessions since 1980.

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Posted by at 05:00 | Posted in OR 77th Legislative Session, Oregon Senate, State Budget | 9 Comments |Email This Post Email This Post |Print This Post Print This Post
  • Belinda

    Bruce who?
    Boondoggle Bruce?

    The big supporter of the worst project n Oregon history that will waste 100s of millions, de-fund future projects around the State, invade another community with unwanted light rail and mixed use crap, not accomplish the intent, needlessly toll, congest I-205 and further insult the public with future tolling on I-202 and new fees and taxes?

    That Bruce?
    And after spewing a boat load of the same BS propaganda used to push every previous Rail boondoggle including his WES and PMLR offenses, he’s now inventing a fiscally responsible Bruce?

    And OregonCatalyst is only too happy to oblige?

    • T. Partee

      “When you wish upon a Starr
      Makes no difference who you are
      Anything your heart desires
      Will come to you
      If your heart is in your dream
      No request is too extreme
      When you wish upon a Starr
      As dreamers do

      What?

      Starr light Star blight
      The first Starr I see tonight
      I wish I may, I wish I might
      See you trailing behind Marshall Applewhite
      With a bop and a hale
      Hauling all nitwit politicians off to jail
      But before y’all go, empty your PERS
      Taxpayers feeding PAC rats now feeling quite adverse

  • this stinks to high heaven

    Last November, just ten days after getting beat in the Labor Commissioner race, Senator Starr was handed a $25,000 check from AGC-PAC (a lobbying organization for public construction projects that lists the CRC funding as one of its top goals).

    Anyone care to guess why AGC-PAC would hand Starr their largest-ever-contribution-to-a-legislator when he wouldn’t have to face re-election for another two years?

    Bruce is desparate to establish some bonafides as a fiscal conservative to distract us from his wholesale sellout on the CRC vote. So he’s posturing with a proposal that he has no hope of passing through either house. Don’t fall for the act.

    In another couple months when his proposal fails, he’ll blame the same democrats that he just hopped into bed with on the CRC deal. Oh and that splash you are feeling on your shoes….that’s just the rain.

    • T.Partee

      Good mourning Starr slime!

  • HBguy

    We all know that Sen. Starr represents highway constractors. After all, he c0-sponsored the bill in 2009 that increased gas taxes and vehicle registration fees by 25% to fund highway construction. This was during the great recession when according to conservative orthodoxy, you NEVER raise taxes in a recession – every dummy knows that.

    Regardless…..I’d like to know more about this most current proposal. What would be the year to year difference if we had it? It seems not a lot different than putting the kicker into a rainy day fund. In good times you save, in bad you tap the savings.

  • http://www.facebook.com/people/Jim-Karlock/100002941973847 Jim Karlock

    Earth to Starr,

    We need the government to go through periodic hard times to force them to cut back excesses, just like private businesses must do.

    Without periodic hard times, government will just grow even more out of control than it already is. With ever more unrealistic pay scales. With even more unrealistic micromanagement of people’s lives. Are you going to defend urban growth boundaries next and compact, sustainable, complete, 20 minute neighborhoods filled with “young creatives”? How about a plastic bag ban? Maybe a universal 45 mph speed limit “to save the children”?

    I am surprised that one of Oregon’s leading Republicans does not understand this.

    Thanks

    JK

  • Guise nuts

    Good ‘mourning’ Starr-shine http://www.youtube/watch?v=qVNyMlw18y

  • T. Partee

    Starr’s knee jerk vote with the Dems on the CRC exposes him for what he is, a Dem shame. Vote the bum out, shun him in meantime.

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