Consto, ergo sum “infrastructure”
Image by Mustang Joe
As Bay Areans prepare to vote on Proposition 5 this cycle, many are asking, “What exactly is a special tax for 'public infrastructure'? What kind of projects are included?” The answer, as elucidated below by The Press Democrat and Sac Bee, may be a bit of a chin-scratcher: the “infrastructure” label can be slapped on, well, most any gov't venture that costs money.
From The Press Democrat:
The protections afforded taxpayers by the two-thirds requirement have eroded somewhat over time. In 2000, Prop. 39 lowered the threshold to 55% for school bonds. And over 80% of post-Prop. 39 school bonds have been approved. Look no further than a recent property tax bill, and you will see as evidence the numerous assessments added for repayment of these bonds. And it should not go overlooked that these assessments increase the cost of housing, for owners and renters alike.
Proponents arguably posit that there is a housing shortage and Prop. 5 will make it easier to borrow money for affordable housing programs. Left unsaid, however, is that Prop. 5 is far more expansive than just affordable housing. Prop. 5 lowers the threshold for “public infrastructure” as well, which includes everything from roads to libraries to water treatment facilities, just to name a few. What Prop. 39 did for school bonds, Prop. 5 will do for just about everything else.
The supermajority exists for your protection and, perhaps even more importantly, the protection of your children and grandchildren. It prevents government from borrowing money based on whichever way the political winds are blowing at the moment. It requires general consensus that the burdens imposed on future generations are offset by the benefits enjoyed today. In short, the last thing we should be doing is making it easier for government to borrow money.
Read the whole thing here.
From the Sacramento Bee:
“We already pay the highest income, sales and gas taxes in the country, and Prop. 5 will lead to even higher property taxes and higher costs for everyone,” [Prop 5 opponents'] ballot arguments read.
The opponents also argue that Prop. 5 broadly defines “infrastructure” to apply to “just about anything the politicians and special interests want to fund on the backs of taxpayers.”
Under the ballot measure, public infrastructure bonds could include regular projects like roads, schools and wastewater facilities. It could also include projects related to expanding broadband internet, protecting against sea level rise, fire and emergency response equipment, and grants for home hardening against wildfires.
Read the whole thing here.
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