Political State Report: straight from the trenches
“Ah, the infamous Hancock Amendment strikes again. This bit of lunacy has destroyed the Missouri state budget for nearly twenty years now. Most Missourians’ only experience with the Hancock Amendment is the $10 annual checks they have received in the past (that cost like $15 to cut) because the state is prohibited by the amendment from collecting “excess revenue.”
Therefore, the state can never collect money and squirrel it away for a rainy day because it must return the “excess” to taxpayers.”
Speaking of lunacy. The writer of this bit of liberal drivel is twisting words and not conveying the actual meaning of the law. The ‘excess revenues’ provision doesn’t mean that the state can’t save money from a surplus budget (not that we have one to save money from anyway). It means that if the state collects more in taxes than the constitutional limit, the excess has to be refunded. Someone incapable of understanding something that simple obviously doesn’t understand the law well enough to comment on it.
“Of course, since Republicans in the state legislature refuse to let the state even use the designated “rainy day fund” anyway, the state finds itself in a whale of a fix — and with a newly Republican-controlled legislature this could get interesting fast.”
The rainy day fund was never intended to be a slush fund for a spendthrift governor. If runaway spending in a bloated budget is the problem, the solution is not to raid a fund intended for real emergencies, the solution is to rein in the excess spending. Governor holden has played politics with the budget for three years now. He’s gone so fas Republicans for school funding shortfalls after the legislature appropriated money for the schools and he refused to release it from state coffers.