TABOR Update
Steve Carithers of the Tennessee Tax Revolt organization writes to announce that there is going to be a town hall meeting in Newport, Tennessee, to present a proposed Taxpayers Bill of Rights for Cocke County. The meeting is scheduled for 5 p.m., Saturday, Oct. 14, at the Newport high school gymnasium. Taxpayers Bill of Rights legislation typically includes a cap on the growth of government spending, a requirement that excess revenue be returned to taxpayers via a tax cut or rebate, and a requirement that tax increases be submitted to a public vote. Carithers says state Sen. Jim Bryson and state Rep. Glen Casada, sponsors of TABOR legislation in the state legislature, are going to be at the Newport meeting as will the mayor of Spring Hill, Ray Williams. Spring Hill recently adopted a local TABOR law.

Meanwhile, here's a story from the Columbia Daily Herald on Sen. Bryson's speech to the Spring Hill Chamber of Commerce last week about his legislation to enact a Taxpayers Bill of Rights for the state of Tennessee. Excerpt:

State Sen. Jim Bryson told members of the Spring Hill Chamber of Commerce Thursday the best way to stop the epidemic of government overspending is an amendment to the state constitution similar to Spring Hill's "Taxpayer Bill of Rights."

The Franklin Republican noted that while, in recent years, there has been a 5.5-percent average annual increase in Tennesseans' income, state spending has increased by 7.3 percent each year.

While Bryson did not give specific details or formulas he will include in the amendment, he said his plan will cap the growth of state spending. Allowing state spending to grow only as fast as inflation and the state's population growth. If the state General Assembly needed more money, legislators would have to put the request before voters in the form of a referendum.

"We need to do the same thing in the state as we do at home and in our businesses, living with the revenue that's coming in," Bryson said.

With the spending cap, lawmakers would have to prioritize and stop spending when the money runs out, Bryson said.

"It forces the government to communicate to the people ... It's all about setting up priorities and making government accountable," he said.

For more on how the Taxpayers Bill of Rights has worked well in Colorado, click here to read my research paper, titled The Right Time: The Case for a Real Tennessee Taxpayers Bill of Rights

Also read A Decade of TABOR, a review of the impact of Colorado's landmark Taxpayers Bill of Rights, by public policy analyst Fred Holden, published by the Independence Institute, a non-partisan Colorado think tank.