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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | April 10, 2024 09:45 AM |
|---|---|
| From: | Representative Robert W. Mercuri |
| To: | All House members |
| Subject: | Returning surplus taxpayer money back to the taxpayers as a dividend |
| Over the past three fiscal years, the General Assembly has built the Commonwealth’s Rainy Day Fund and General Fund surplus into a substantial sum. Special interests and elected officials have been eyeing that reserve, totaling more than $12 billion, as a means to fund their additional spending. However, this additional spending would commit the Commonwealth to ongoing unsustainable expenditures into the future, extending well beyond when these one-time balances are consumed. Instead, the General Assembly should return a portion of the surplus o the taxpayers who paid the taxes that created it. This program could return up to $1,000 per taxpayer. My legislation would establish the 2024 Taxpayer Dividend Program to provide a one-time dividend to taxpayers who timely filed their tax year 2023 Personal Income Tax returns. I look forward to working with you on this important legislation. |
Introduced as HB2282