This morning the NC House Finance Committee killed HB 315 (for more information see this post) the Taxpayer Information Act. All Democrats joined by 4 Republicans helped defeat it 17-13. The four republicans; Howard of Davie, McComas of New Hanover, Setzer of Catawba and Starnes of Caldwell decided that government should not have to provide the same information to taxpayers that it requires private business to give consumers when they borrow money.
Simply put the bill would have required when government asks voters to approve bonds they also provide an “estimate” of the amount of interest that would be repaid along with the principal. Simply put it lets taxpayers know the true cost of borrowing. Brian Balfour wrote about this bill when it was first introduced.
It was particularly amusing to listen to a number of democrat legislators talk about how extra language would “confuse” voters and that they don’t understand all of what goes into funding government. They have no problem telling private business how to operate but don’t get between government and the feedbag in any way!
I hope this is an aberration and not an indicator that some GOP members want to hide the true cost of government from taxpayers. The last time the GOP was in charge at the federal level they became the party of big government and were summarily dismissed by voters in 2006. Hopefully the new legislative majority understands that they were elected to right-size state government, not protect governments ability to spend and the lobbyist that live off of that spending.