ATLANTA – (January 27, 2011) State Senator John Albers (R-Roswell) has Co-Sponsored Senate Resolution 20 - “Taxpayer Protection Act of 2011”. The proposed Constitutional Amendment would limit how many tax dollars the state of Georgia can spend in any given year.
“The message from my constituents is crystal clear – control government spending. I am honored to co-sponsor this measure which allows the voters to make certain Georgia government spending is under control. Legislators have an obligation to be fiscally responsible. This measure will make sure we live to this standard,” said Senator John Albers.
“Senator Albers has already proven himself a leader on helping control state spending. I appreciate his support on this important issue. The Taxpayer Protection Act will protect future generations of Georgians from government growing too large,” said Senate Majority Leader Chip Rogers, the sponsor of the Resolution.
Senate Resolution 20 would restrict the state from spending any money in excess of the previous year budget adjusted for inflation and population. Any additional revenue beyond the spending limitations would be required to go into the Rainy Day fund until it reaches a point of 10% of the previous year spending. Once the rainy day fund is at 10% additional revenue would be used to slowly phase-out the state income tax.
The Amendment was approved Wednesday by the Senate Finance Committee in a unanimous bi-partisan vote.
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