Tuesday, January 26, 2016

Interesting information about the "stealth tax increase"

The mainstream media is not covering this (what else is new) but Trimet and its cronies are up to no good here.


You left off the rest of the story.  And I can't find a story anywhere reporting on the biggest money grab in TriMet history..

How Will TriMet Pay For This?

TriMet could try another Levy to boost funding like their tried in 2010. That went down in flames with no organized positions.
Voters may not cooperate again, in part because because sue their MAX system reliability is all time low.

The answer? Remove the public voting part of course.

That is what is underway. A bill to let TriMet escape voter approval.

Retiring Sen. President Peter Courtney (D) has prepared a bill for the short session to give TriMet the authority to go around voters and impose a new second payroll tax on employers AND a new withholding tax on all employees.

Its will amount to a new windfall revenue stream starting at $71 million the first year and grow into borrowing capacity worth billions.

It's the BAILOUT TriMet and Metro have always assumed was coming.

It's enough to chip away at their billion unfunded benefits liabilities, revive the unwanted CRC/Light Rail,
fund the unneeded Powell/Division BRT and push forward the unwanted SW Corridor Light Rail.

Recent history and simple math shows the revenue will double in 20 years and keep growing giving TriMet a new revenue stream capable of debt servicing upwards of $3 billion. 
That's 6 times Oregon's $450 million share of the comatose CRC.    

They need money to revive the CRC, build the Powell/Division BRT and proceed with the SW Corridor Light Rail.
Courtney's transit bill is the same as this amendment to the Failed Transportation Bill from the 2105 Legislative session. 

It's a new duel tax on both businesses and employees:

Be It Enacted by the People of the State of Oregon: SECTION 1. ORS 267.385 is amended to read: 267.385. (1) To carry out the powers granted by ORS 267.010 to 267.390, a district may by ordinance impose an excise tax on every employer equal to not more than eight-tenths of one percent of the wages paid by the employer with respect to the employment of individuals. For the same purposes, a district may by ordinance impose a tax on each individual equal to not more than eight-tenths of one percent of the individual’s net earnings from self-employment.

I like the "Enacted by the People" part.     A bill that removes voter approval is by the people?

On what planet is this unscrupulous tactic acceptable and do these TriMet/Metro schemes rise above so many other needs? 
Planet Oregon.

No comments: