Proposition 53: Elections and Campaigns: Voter Approval Requirement for Revenue Bonds above $2 Billion Initiative NO

Proposition 53: Elections and Campaigns: Voter Approval Requirement for Revenue Bonds above $2 Billion Initiative NO

Explanation: Proposition 53 requires voter approval before the state could issue more than $2 billion in public infrastructure bonds that would require an increase in taxes or fees for repayment.

BWW Analysis: Although it sounds like a good idea, in practice, not so much. Anytime major money needs to be moved quickly using bonds, California would need to have a vote, which also costs taxpayer dollars. In addition, communities that have nothing to do with a certain project would be able to vote for or against it, setting up the potential for smaller communities being disenfranchised.  We put our elected officials in office for a reason. If we feel like they are mismanaging bonds, we need to replace the representatives, not replace the system.

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