Committee approves Regola bill to limit state spending

Finance Committee endorses Taxpayer Protection Act

 

The Senate Finance Committee today reported out Senator Bob Regola’s Taxpayer Protection Act, a Constitutional Amendment that would limit state spending to the average rate of inflation plus population growth over the three preceding years.

“I am very pleased that the Finance Committee approved Senate Bill 7,” said Sen. Regola.  “It is extremely appropriate that we consider this legislation as we get into the annual budget debate.  Governor Rendell’s proposed budget is a dramatic example of why Pennsylvania needs to rein in state spending.  If the Taxpayer Protection Act were in place, there would be no need to raise $2.5 billion in new revenue through seven tax increases like the Governor has proposed.”

Speaking at the Finance Committee meeting, Senate President Pro Tempore Joseph Scarnati (R-25) said Pennsylvania state government needs the spending restraints provided by the Taxpayer Protection Act.