Re: press release

[Tom Trail <ttrail@moscow.com>]

Visionaries:   Idaho's budget deficiet is projected at $160,000,000 for the
coming fiscal year.
The Governor and several legislative leaders have publically stated that we
cannot cut education or
medicare any further.   None of our leaders indicates how we are going to
solve the fiscal prolem.
Listed below is a press release of one idea that we hope will help initiate
the debate and offers
some innovative ideas on how to raise revenue.
>>>>
>>>> PRESS RELEASE
>>>>
>>>> IDAHO ECONOMIC RECOVERY AND TAX REFORM ACT OF 2003
>>>>
>>>>
>>>> Representatives Alan Andersen (D-Pocatello) and Tom Trail (R-Moscow) today
>>>> announced
>>>>
>>>> a bi-partisan legislative initiative called the "Idaho Economic Recovery
>>>> and Tax Reform Act
>>>>
>>>> of 2003."   This initiative focuses on  fiscal policy which would help
>>>> steer the State out of its
>>>>
>>>> current budget crisis,  and would provide sufficient enhanced revenues to
>>>> prevent further cuts to
>>>>
>>>> K-12, Higher Education, and Medicare
>>>>
>>>>
>>>> Governor Dirk Kempthorne and key Legislative leaders have publicly stated
>>>> that the education
>>>>
>>>> and Medicare budget cuts cannot go any further.   Both the Governor and
>>>> legislative leaders
>>>>
>>>> strongly indicate that the fiscal budget crisis must be resolved, and no
>>>> further holdbacks should
>>>>
>>>> be contemplated.   The Governor's Blue Ribbon Committee has suggested that
>>>> a sales tax increase
>>>>
>>>> may be necessary to balance the budget.   Several education leaders noted
>>>> that if education is
>>>>
>>>> not adequately funded, Idaho may find itself replacing potatoes with
>>>>people
>>>> as its most famous
>>>>
>>>> export.
>>>>
>>>> The Idaho Economic  Recovery and Tax Reform Act of 2003 proposes to reduce
>>>> the sales tax
>>>>
>>>> rate from five percent (5%) to four percent (4%), reduces the use tax rate
>>>> from five percent (5%) to four percent (4%)
>>>>
>>>> and repeals certain exemptions in both the sales tax and the income tax
>>>> with the result that there is
>>>>
>>>> a net gain in tax income to the State of Idaho of approximately $131.2
>>>> million commencing September 1, 2003.   Additionally, the payment of
>>     quarterly estimates will increase the revenues in the approximate
>>sum of $80
>>     Million, which will be received on June 15, 2003 (which may reduce
>>the need
>>     for any further holdback in FY 2003.
>>>>
>>>>
>>>> Both Andersen and Trail support this approach as a viable option to not
>>>> only balance the budget
>>>>
>>>> but provide adequate funding for education and Medicare.   There, no
>>>>doubt,
>>>> will be many
>>>>
>>>> other proposals brought forth during the upcoming
>>>> legislative session--so
>>>> let the debate begin.
>>>>
>>>>Rep. Tom Trail (R-Moscow)              208-882-6077
>
>      Rep. Allen Andersen (D-Pocatelleo)   208-233-5438
>>>>
>>>> Rep. Tom Trail 208-882-6077
>>>>
>>>>Rep. Tom Trail
>>
>
>

Dr. Tom Trail
International Trails
1375 Mt. View Rd.
Moscow, Id. 83843
Tel:  (208) 882-6077
Fax:  (208) 882-0896
e mail ttrail@moscow.com