The Taxpayer Information Act (HB 315), is the brilliant idea of NC Speaker Pro Tem and candidate for Lt. Governor, Dale Folwell. The Taxpayer Information Act will make it clear to see what local government is seeing when they propose bond measures. I think transparency is a wonderful thing! This act, if it is passed, will let taxpayers know exactly how much they will be on the hook for. Just as mortgage providers are required to tell borrowers the final cost that they are incurring with both the principal and the interest, the government should explain to the taxpayer what they are seeking to borrow on their behalf.
Someone explained it like a couple going to a restaurant to eat. The couple had a lovely dinner and enjoyed stretching their budget to it’s max at $50 for the two meals. When the check comes they see that they actually owe $90. They can’t imagine how this happened so they quickly call the waiter back to the table. He kindly explains that the advertised price didn’t include gratuity, tax, and an environmental charge. The restaurant knew that these charges would be added the entire time and the couple has a right to feel cheated. Voters, not just in North Carolina but all over the country, are being fooled into approving new public debt without understanding the final cost of the bill.
I’m proud to see NC in the national news for something good. If NC can be a leader for our nation in an area, I’m glad that it’s transparency. We need more of that in both our local and national governments!
Reminder: Early voting started yesterday in NC so get out there, find a voting site near you, and go vote!