Jan. 20, 2016 / Press Release /Stop Blank Checks
SACRAMENTO, CA – Last year, the Stop Blank Checks initiative made great strides, collecting nearly a million signatures which qualified the initiative for the November 2016 statewide ballot. The initiative requires statewide voter approval for state revenue bond projects costing more than $2 billion. Currently, general obligation bonds require voter approval, but revenue bonds do not. This measure would close that loophole and give voters a voice when it comes to the state’s biggest projects.
Below is a sampling of what others are saying about the Stop Blank Checks initiative:
(“Dan Walters: Farmer’s measure hits bonds,” by Dan Walters, The Sacramento Bee, December 19, 2015)
“Theoretically, there are good reasons why GO bonds need voter approval, while revenue bonds don’t. But the once-clear separation between the two has been blurred by politicians who don’t want to risk rejection by voters.”
…As long as these smarmy voter-avoidance schemes exist, perhaps subjecting big revenue bond issues to voter approval isn’t such a bad idea.”
(“Voters should have a say about long-term debt,” by Contra Costa County Supervisors Mary N. Piepho and Karen Mitchoff, Contra Costa Times, November 20, 2015)
“This measure is simple. It would allow voters a say on the state’s biggest, most expensive projects that impact all of us.”
(“Voters should have a voice on infrastructure,” by former California State Senator Michael Machado, Contra Costa Times, October 3, 2015)
“Unfortunately, today we see politicians and state bureaucrats trying to use “revenue bonds” to pay for large infrastructure projects. These projects require no legislative hearings, no vote by the Legislature and no vote of the people.”
(“Jerry Brown, Waterloo & round two of Delta follies,” by Dennis Wyatt, Manteca Bulletin, December 30, 2015)
“Funny how California voters for the most part haven’t balked at approving state general obligation bonds to finance everything from freeways and schools to other water projects.
Prove there is a need that’s justified and California voters routinely tax themselves to pay for it.”
(“Not just another rich guy with an idea,” by Dan Morain, The Sacramento Bee, September 26, 2015)
“Clever legislators and lobbyists have expanded the definition of revenue bonds to apply to many projects that are tough sells.”
(“Dan Walters: Pushing for voter input on big issues is brilliant strategy,” by Dan Walters, The Sacramento Bee, July 25, 2015)
“The “voter empowerment” strategy is brilliant, forcing opponents of both measures to convince voters that they shouldn’t be allowed to vote on two highly controversial, very expensive issues.”
The Stop Blank Checks initiative (15-0003) 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 on the initiative, visit www.StopBlankChecks.com.