SACRAMENTO, CA – Yesterday, the Sacramento Bee published an opinion piece by Katy Grimes, President of the Sacramento Taxpayers Association, advocating for Proposition 53. The Sacramento Taxpayers Association joins over 20 state and local taxpayer groups, including the Howard Jarvis Taxpayers Association, that support the measure to stop blank checks and give voters a voice.
Proposition 53 would simply require a public vote for state megaprojects that use more than $2 billion in state revenue bonds. It would also increase transparency by ensuring the disclosure of the total cost of a project before the vote.
Read excerpts from Katy Grimes’ opinion piece, “Prop. 53 will give voters a voice on mega-projects,” below:
“…many of these revenue bonds are issued by appointed members of state agencies, resulting in virtually no transparency or accountability and almost always guaranteeing massive cost overruns…
To make matters worse, a vote is not required by the Legislature or the people. So voters cannot seek recourse. It should upset you that this is the state’s way of doing business when billions of dollars are at stake. In the last 30 years, $1.5 trillion in debt has been issued by state and local governments. If we don’t do something to rein it in, that will be the biggest legacy we leave for future generations.
Proposition 53 puts an end to blank-check spending and says that if voters have to pay, then they deserve to have a say.”
Read the opinion piece on the Sacramento Bee’s website here: http://www.sacbee.com/opinion/
Proposition 53 would require statewide voter approval for state revenue bond projects costing more than $2 billion, closing a loophole that allows politicians to issue massive new debt for multi-billion dollar projects without voter approval. For more information, visit: www.YESon53.com.