Tennessee Democratic and Republican lawmakers are currently debating about whether or not take the Federal Stimulus money and how to spend it.
“The solution is simple,” declared Libertarian Party of Tennessee Chair Tony Wall, “Take the money. The Libertarian Party of Tennessee opposes the passage of all federal ‘bail-outs’ but, unfortunately, the money has been appropriated and, after all, it belongs to the taxpayers.” Unfortunately, the bi-partisan unity ends there.
“The Tennessee State legislature needs to use the funds to reduce the state’s high sales tax,” said Wall. “History has proven the most effective way to stimulate an economy is by reducing taxes. By tightening its belt, as Tennessee citizens have already done, the State can use the $4.28 billion over the next two years to drastically reduce the tax burden on its residents and revitalize our states’ economy.
The State of Tennessee government needs to sacrifice, like all Tennesseans, and balance the budget without the ‘bail-out’ funds. Eliminating the Dividend Income Tax will encourage new retirees to select Tennessee as their new homeplace and reducing the sales tax will revitalize border towns around the state, which all currently suffer a competitive disadvantage due to high taxes.”
Mr. Wall admits the short term effects will be painful but it is necessary in order to overcome the recession and create a stronger, more inviting environment for future growth. “Tennessee cannot control the rest of the Nation but we can take care of our own, as we have already proven time and again. I encourage all Tennesseans to demand fiscal discipline from their elected officials during this time of crisis.”
For more information about the Libertarian Party of Tennessee, please visit www.lptn.org or call us at 888-960-1776.
