Starr and Edwards Introduce State Savings Account

From Sen. Starr Press Release 2-5-07:

“Discipline for the State Legislature”

Salem, OR — Monday morning Senator Bruce Starr (R-Hillsboro) and Representative David Edwards (D-Hillsboro) introduced one of the simpler proposals for a state savings account to be discussed this session. In a hearing before the Senate Finance and Revenue Committee, Starr outlined a plan that would put 3% of state revenue into a savings account every year.

“Three percent of revenue collections will go into a state savings account, it is that simple,” said Starr. ” Salem is going to spend a lot of the next few months talking about a spending plan; I think we should be talking about a savings plan.”
Starr’s proposal, Senate Joint Resolution 13, in addition to putting 3% of the state revenues into a savings account for tough times, also limits the amount of money the legislature can take from the savings account at one time. Starr noted that a savings account is necessary given the legislature’s historical lack of fiscal discipline.

“We hear a lot of talking about “˜tax restructuring’ and a sales tax, but a change in tax structure won’t solve our problems,” said Starr. “This is a savings account that fits our revenue system. Ultimately, what Salem needs more than anything is discipline.”

Starr said that calls to take the personal kicker are a poor solution to a problem that really needs more prioritized spending and careful savings.

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Posted by at 07:49 | Posted in Measure 37 | 3 Comments |Email This Post Email This Post |Print This Post Print This Post
  • Homer12

    Hey, Mr. Bruce left out what 3% amounts to? Are we talking a million? billion? How many clams are we all fussing about.

  • Jerry

    These people are nuts. Just quit spending so much.

  • Marlynn

    Why should we be over taxed that 3%! You should know by now there are no guarantees that the designated tax money will be put into a savings account that won’t be raided for other pet projects. I’m sure that money will find it’s way to promote the UN’s phoney Global Warming Scare or it’s Religion of Green.

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