For immediate release:
The Associated Press reported earlier this week that the State of Tennessee will have over $500 million in “surplus” funds this fiscal year. The Libertarian Party of Tennessee has a suggestion regarding how to spend the extra money. “The budget surplus would best serve all residents of Tennessee if it were spent on a permanent reduction in the states sales tax,” said Tony Wall, Libertarian Party of Tennessee Chairman. “It has been proven over and over that the best way to spur and sustain real economic growth is to leave as much money as possible in the hands of the citizens. The sales tax has once again proven itself to be an effective funding mechanism for government, but fiscal restraint on the part of our elected officials must accompany the additional revenue. Despite the materialization of the largest surplus in recent years, our state leaders are currently debating on how much to raise the cigarette tax. Tax increases are not needed and a temporary tax reduction will neither be effective nor acceptable. Preliminary projections of a $400 million surplus in next years’ fiscal budget indicate that the state can and must return the surplus to its rightful owners, the citizens of Tennessee.”
For questions or to request more information about the Libertarian Party of Tennessee, please call 888-960-1776 or visit www.LPTN.org.
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