California Needs a Fiscal Rules Revival: ALEC in The Orange County Register
In their latest op-ed for The Orange County Register, ALEC Vice President of Policy Lee Schalk and Center for State Fiscal Reform Research Director Thomas Savidge explore the history of California fiscal rules and explain how the Golden State could benefit from a Taxpayer’s Bill of Rights (TABOR).
On Tuesday, California voters decide the fate of Proposition 30. If approved, the state’s top personal income tax rate would exceed 15%, higher than any state in the union. For years now, the Golden State has leaned into higher tax and spend policies, which has sent businesses and individuals packing. But it wasn’t always this way.
California should look to states like Colorado, where the Taxpayer’s Bill of Rights (TABOR) turned 30 years old this week and is considered the gold standard for state fiscal rules.