Initiative to Limit Spending in Washington, Increase It In Oregon
Joe Mathews -
January 3, 2009 - 1:28pm
Frequent initiative sponsor Tim Eyman is scheduled to announce a new initiative Monday that would limit how much revenue can be collected by state and local governments. Any excess money would be used to reduce property tax bills. Look for this to be pitched as a response to the collapse of the real estate market and the economic crisis. But it's a high-risk policy. With economists of all kinds calling for public investment to stimulate the economy, the state, cities and counties of Washington would instead have to spend less.
To the south, in neighboring Oregon, the business community is preparing an initiative that would guarantee more funding for higher education.
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