Initiative Petition 6 Would Gut Oregon’s Ability to Pay for Roads, Parks and Schools

State Treasurer goes on the record to speak out against an initiative that would further weaken Oregon's abilities to meet its most basic needs.

Passing of similar legislation in Colorado called the Tax Payers Bill of Rights nearly ruined the state's school system

(SALEM) - As the chief financial officer of the state, I am deeply concerned about the negative impact of Initiative Petition #6, a short-sighted idea that would reduce funding for public schools, public safety, our parks and more.

The State estimates that $2.2 billion would be cut from the 2007-2009 budget, just as Oregon is digging out of a nearly $2 billion hole from the 2001-03 budget.

This initiative will upend Oregon’s ability to pay for roads, bridges, prisons and affordable housing. Further the initiative will hurt the State’s credit rating by greatly reducing our flexibility to pay for our needs.

As State Treasurer and someone who has begun to study the potential impacts of this initiative petition, I implore Oregon voters this November to carefully consider the long-term implications of this spending cap on the valuable services and investment we now have in place.