Parties Disagree Over Excise Tax Revenues
By Kealey Bultena
South Dakota lawmakers are moving forward with a bill that puts contractor’s excise tax dollars into a large project development fund. But legislators are voicing different opinions on House Bill 1230.
Republican and Democratic opinions clash over preventing a portion of the excise tax from dropping into the general fund. Republican Representative Nick Moser says it’s important to have a tool to encourage businesses to build in South Dakota. Moser says the bill allows the governor to use the money in the fund as he sees fit, but he’ll have help from economic experts.
"I would not want the legislature to be charged with the task of investing those funds. I would rather have investment professionals, some of the brightest minds in the state, investing those funds. And we do, and that’s why they’ve done so well," Moser says.
Democratic Representative Bernie Hunhoff opposes the bill. He says he’s not against creating the fund but the source shouldn’t be general fund dollars that could be better used for education and Medicaid.
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