Moylan: rollback BPT with excess revenue
What to do with millions of dollars in excess government revenue? Gov. Lou Leon Guerrero plans to use it to pay down the government's $89 million deficit.
But Sen. James Moylan is asking why not use it for more urgent needs instead.
The final figure's not in yet, but the governor confirms that they finished the fiscal year with millions of dollars more in revenue than what was projected. But don't call it a surplus she says, because it'll be used strictly for deficit reduction.
In a letter to the governor though, Moylan wrote there are more pressing needs like medicare funding for the hospital, and money to help with the reconstruction of Simon Sanchez High School.
"I think the government will always have a deficit," Moylan said. "I don't see any reorganization going on in the government and I see the government getting larger and larger, but I think the priorities on this surplus, extra money here, should be for the immediate repairs and concerns that the people need right now."
Moylan argues that no matter what you want to call it, it should be returned back to the people by way of a rollback in the business privilege tax from 5 to 4-percent.
"The government's not supposed to make a profit," he said. "And when you see excess of what you thought you projected for and then all of a sudden you get $27 million or $10 million that's a lot. You just overtax the people, overtax the businesses and it hurts the small guy."
Moylan is also the sponsor of a bill to hold a voter referendum on whether to rollback the BPT. He said he doesn't know when or if it will make it out of committee.