Chad Garrison from the Riverfront Times posted a pretty revealing item about Rex Sinquefield and his attempts to hide how much his tax proposals could cost the state.
Let's take a look at the current fiscal note summary drafted by Auditor Tom Schweich for two recent versions and the fiscal note summary that Rex Sinquefield would like to have on the ballot. Sinquefield is suing to get the language changed.
Here is Schweich’s fiscal note.
Annual state government revenue under this proposal may increase by up to $300 million or decrease by up to $1.5 billion. The proposal is estimated to increase state operating costs by at least $15 million, and may accelerate tax credit redemptions. The fiscal impact to local governments is unknown.
And here is the fiscal not Rex Sinquefield and his lobbyist Travis Brown would like to see (emphasis added):
Annual state government revenue under this proposal may remain the same or increase by up to $300 million. The proposal is estimated to increase state operating costs by at least $15 million, which is less than expected new revenues. The fiscal impact to local governments is unknown.
Here’s hoping that they get laughed out of the courtroom for trying to hide the potential costs of this proposal and the large hole it could leave in the state budget.