Better

Spending First Fact Sheet Ballot Issue #2 Pro Helps the counties and municipalities create and finance economic development projects. Con Allows counties and municipalities to raise taxes to fund private development projects with little or no fiscal oversight after the project is funded. More Alarming, if the anticipated tax revenue anticipated is unable to meet the newly-issued debt taxpayers will still be on the hook. Pro Issue bonds to (payoff) unfunded liabilities on police and fire pension plans funded by a tax increase. Con Issuing new debt to payoff old debt is bad business. Paying on closed pension funds using current revenues is the wisest and safest way to pay for pensions. State debt amounts to $13,425 for every man, woman and child in Arkansas. We have a debt crisis in Arkansas and more debt endangers our fiscal stability. Pro Allows cities and counties to use special revenues to pay for short-term debt obligations. Con This change would allow counties and municipalities to use special revenues that are legally restricted to expenditure for specified purposes such as those for financing schools, parks, or libraries. Pro STAR Bonds are targeted investment in our economic future Con The most fundamental problem is that politicians believe they know better than private companies. Private enterprise does not dare risk their own capital in such investments, but politicians want to leverage that risk with taxpayer dollars. Unfortunately it is the taxpayer, not policy-makers or benefitting businesses who lose. The STAR bonds program is bad business no matter how you slice it. Pro STAR bonds are touted to Arkansans as a sure-fire way to create jobs. Con A simple and low tax policy is the surest way to create jobs. A states tax policy is the most direct, immediate way to foster economic development and attract the capital investment creating more jobs. Sadly, Arkansas choices hurt it prospects. Arkansas ranks 33rd in Tax Foundations 2013 Business Tax Climate Index. To expand business growth and prosperity in Arkansas we must have a simple tax policy.