[LWVNM Action] The budget as a moral document

[Richard Mason]

Many over the years have called the budget a moral document - how you raise
& spend money reflects the values of the society. I am attaching the Fiscal
Impact Report (FIR) for HB163 - the tax package just passed by the
Legislature. The whole story is on the first of the 24 pages.

The Income Tax Exemption for Social Security costs the state from 84
million in the first year to 99.5 million in the 4tth year
         This mainly benefits middle to high income seniors

The Child Tax Credit that goes to families with children doesn't go into
effect until the second year & then costs the state about 75 million a year
          I actually heard a legislator say they had to reduce it because
of the fiscal impact

Conclusion - our Legislature cares more about middle to high income seniors
than they do about families with children.
Maybe because old folks like me vote in greater numbers.

Dick Mason
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