Closing corporate loopholes would bring balanced approach

The results of this year’s elections will put the state and the families struggling in this economy in even more jeopardy. However, lawmakers will have options for preserving our values as a state through a balanced approach.

They have the chance to maintain essential services by closing unnecessary corporate loopholes.

Such creative and responsible actions are necessary given the passage of Initiative 1107. On top of the $4.3 billion in cuts the state has made the last two years, I-1107 repeals the new sales tax to candy, gum, and bottled water, along with an excise tax on carbonated beverages that were essential in preventing even deeper cuts this year. Their repeal will increase the shortfall for maintaining state services over the next three years would by another $272 million.

The passage of Initiative 1053, meanwhile, will reinstate a requirement that tax increases, no matter how small, be approved by a supermajority in the Legislature or by a public referendum vote.

Now is the time to leave behind the polarization and negativity of the campaign, and do the tough work of managing our state. Legislators should place before voters a balanced proposal to preserve the basic state structures we’ve built. Our states quality of life and economic future depends upon it.