Our state Legislature is currently working on a bill to reduce our taxes. Everyone loves lower taxes, of course. However, we should note the fact that, depending on which plan currently under consideration is adopted, state revenue will drop by $1 billion, or much more, over the next six years.
Such a large drop in revenue will have to be accompanied by spending cuts of $1 billion or more, if we are to retain a balanced budget. Yet no mention has been made of where those cuts will occur. It’s hard to imagine something more irresponsible than to implement such an ambitious tax cut with no plan for how to offset that cut in the budget.
Before we start cheering for tax cuts, we need to know the consequences of those cuts. We must demand that our state legislators tell us where the inevitable budget cutting will occur before they pass this bill. - Dave Slaven, Sioux City