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More bills to keep an eye on Featured
Fans of a balanced budget amendment should look at HB 75, Balanced Budget Compact. This builds support for a specific balanced budget amendment to the federal constitution into Wyoming statute. I wonder how the legislature will reconcile this with all those federal goodies they like to get. And that is a flaw, perhaps the fatal flaw, of this proposal: the states can approve going over the constitutional limit. Can you see California or Illinois not voting to do so?
HB 102 is horrible. The government may be entitled to the back taxes, interests, costs, etc. But in no way is it entitled to the surplus over that! It should go to the (former) owner. This is a pure tax grab.
The two most recent reports from CREG, the Consensus Revenue Estimating Group, tell of a mounting revenue problem for the state government. This has now led to the introduction of a bill - S122 - to the ongoing legislative session that calls for the formation of a group to find a solution to the problem.
Today Tuesday the House will hold its second reading of HB75, the Compact for a Balanced Budget bill that proposes a debt-limitation balanced budget amendment to the U.S. Constitution.
Yesterday's first reading included a vigorous debate, demonstrating that this is an issue the members of the House take very seriously. The vote, 35-23, also shows that while the idea of a balanced budget amendment is accepted in principle, there is still some hesitation as to whether or not the Compact is the right way to go.
The Structured Exit Featured
And now it is official - Senate File 0122 now formally proposes the formation of a Skyfall 2020 commission:
An act relating to the administration of government; creating the Vision 2020 comprehensive expenditure and revenue review; providing for oversight of the review by the management council of the Wyoming legislature; creating the Vision 2020 comprehensive expenditure and revenue review advisory panel; creating areas of review; providing for the creation of task forces as specified; providing for appointment of members to the advisory panel and task forces; providing for assignment of duties as specified; providing for reports; providing an appropriation; and providing for an effective date.
This morning the House Revenue Committee passed HB0075 and HJ004, both proposing a so called Article V venue to put a balanced-budget amendment on the U.S. constitution. The two bills share the same goal, and the organizations that provide the background material - Compact for America (HB75) and the Balanced Budget Amendment Task Force (HJ4) - are for all intents and purposes fellow travellers. There is one major difference, though, between the two alternatives: the Compact model comes with a ready-to-go amendment; the Task Force, on the other hand, would leave it to the Article V Convention to draft the amendment.