Financial circles wary of spending cap

Miller, Jay
May 2006
Crain's Cleveland Business;5/15/2006, Vol. 27 Issue 20, p3
This article focuses on the proposed Tax and Expenditure Limitation (TEL) constitutional amendment in Ohio. Many lawyers and investment banker are worried that the amendment might complicate the market for municipal bonds issued by public entities in Ohio. Joseph O'Keefe, a municipal bond rating analyst with the firm Fitch Ratings in Chicago, Illinois, said that how much interest rates might rise for issuers of municipal bonds in Ohio will depend on exactly how restrictive the TEL would be. The TEL amendment would set a cap on any annual increase in spending by state or local governments of 3.5% or the rate of inflation and population growth, whichever is greater.


Related Articles

  • TASC on steroids? No thanks. Muth, Chuck // Las Vegas Business Press (10712186);6/26/2006, Vol. 23 Issue 26, p4 

    The article expresses objection to the constitutional amendment proposed by the Tax and Spending Control Initiative Committee (TASC) in Nevada. Part of the objection to the proposal is that a TASC law, NRS 353.213, already exists. The existing TASC law will force legislators to either cut...

  • Roll Call.  // Human Events;7/1/2002, Vol. 58 Issue 25, p19 

    Reports on the decision of the U.S. House to vote in favor of a tax limitation amendment to the Constitution on June 12, 2002. Required number of votes for passage of the amendment; Impact of the legislation on taxpayers; Views of the opposition on the amendment.

  • Colorado lawmakers want to change amendment that limits tax, spending. Preston, Darell // Bond Buyer;07/09/99, Vol. 329 Issue 30679, p3 

    Focuses on lawmakers' proposals in Colorado to amend the state constitution that imposes caps on tax and expenditures in the state. Schedule set for hearing testimonies from local officials; Issues discussed by legislators to make the limits more workable.

  • California Democrat Hopes to Terminate Proposed Spending Limits Amendment. Williams, Rochelle // Bond Buyer;12/1/2003, Vol. 346 Issue 31771, p43 

    Reports on issues over the proposed constitutional amendment by Governor Arnold Schwarzenegger for the spending limits in California. Opposition on the amendment by budget committee member Jackie Goldberg; Provision of the governor with too much power; Improvement of the state's fiscal health.

  • THE RIGHT EAR.  // Human Events;04/23/2001, Vol. 57 Issue 15, p24 

    Provides news briefs on government and politics in the United States as of April 23, 2001. Campaign of several senators to push for a tax limitation amendment to the Constitution; Failed audits of the United States Department of Education for three-consecutive years; End of the publication of...

  • A critique on the effectiveness of tax-expenditure limitations. Bails, Dale // Public Choice;1982, Vol. 38 Issue 2, p129 

    The principal purpose of this study is to investigate the probable impact of tax and spending limitations on tax burdens and state expenditures. This is accomplished via a systematic evaluation of the alternative proposals associated with tax limitation legislation. In particular, this paper...

  • The Tax Tangle. KIRAN, NITI // Business Today;1/3/2016, Vol. 24 Issue 26, p20 

    The article focuses on tax disputes between the Indian government and the corporate sector which has kept a large sum of money suspended. Topics include primary cause of tax disputes being confusing tax laws, long time cycle for tax related cases to be solved legally, and major part of tax...

  • At Home. Evans, M. Stanton // National Review Bulletin;6/30/1978, Vol. 30 Issue 26, pB94 

    This article focuses on various tax limitation amendments in the U.S. The Jarvis-Gann amendment to limit property taxes in California was passed by a thumping majority. The victory of conservative Jeffrey Bell over veteran liberal Republican Clifford Case in the primaries in New Jersey was...

  • House fails to pass tax limitation amendment.  // Human Events;5/3/96, Vol. 52 Issue 17, p22 

    Reports on the Senate's failure to pass the tax limitation amendment. Provisions of the amendment; Implications of the failure to pass.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics