Tag Archives: legacy fund

Guest Post: Why Are We Investing in China and Not North Dakota?

Guest Post: Why Are We Investing in China and Not North Dakota?

This guest post was submitted by attorney and Fargo resident Luke Heck. As we approach the ten-year anniversary of our state’s adoption of the Legacy Fund into our Constitution this November, it is time that we, as a state, consider ensuring that the fund’s principal, or at least part of it, is actually being invested

Left Wing Protesters Disrupt Legislative Meeting Over Legacy Fund, Tell Majority Leader to F**K Himself

Lawmakers are in Fargo again today holding public hearings soliciting ideas for the $6.8-billion-and-counting in the state’s Legacy Fund. I wrote about yesterday’s iteration of this hearing earlier today, but sources on the scene tell me today’s continuation of the hearing has been disrupted by left-wing protesters. Here’s a brief (and not very high quality,

The Legacy Fund Should Be About Legacy, Not the Spending Needs of the Moment

Earlier this year, I wrote a print column headlined, “We’re Going to Do Something Stupid With the Legacy Fund.” Yesterday the Legislature’s Legacy Fund Earnings Committee held a hearing in Fargo and the various special interests who pitched ideas for spending now-$6.8 billion fund, and I’m more convinced than ever that I’m going to be right. The

There’s Nothing “Reckless” About Using the Legacy Fund to Lower and Eliminate Income Taxes

“Don’t give away Legacy earnings,” reads the headline over Mike Jacobs’ most recent column in which he warns that North Dakota’s multi-billion dollar Legacy Fund ought not be used to reduce tax burdens. “One of the reckless ideas that’s been bandied about is to eliminate the state income tax. This has proven to be a

Using the Legacy Fund to Eliminate Income Taxes Would Not Make North Dakota Like Alaska

During the last legislative session there was a bill, passed by the state House by a wide margin but shot down by the Senate, which would have used revenues from the state’s Legacy Fund to reduce and eventually eliminate state income taxes. I interviewed the sponsor, state Rep. Craig Headland (R-Montpelier), about the legislation earlier

Print Column: It Won’t Be a Sexy Ballot Measure, but It Will Be an Important One

MINOT, N.D. — A coalition of interests met in Bismarck recently to discuss a ballot measure — a proposed amendment to the state constitution — which would invest Legacy Fund dollars into an infrastructure loan program for the state. I’m sure many of you read that sentence and promptly fell asleep, because the nuances of policy behind

Groups Discussing an Initiated Measure to Create a Legacy Fund Loan Program for Infrastructure

During their regular session earlier this year state lawmakers defeated a proposal, introduced by Senator David Hogue (R-Minot), which would have invested Legacy Fund dollars into an infrastructure loan program for local governments. The benefit would have been cheaper, faster financing for infrastructure projects, which saves tax dollars, but the Legacy Fund would have still

Governor Burgum Is Right to Continue Calling Out Legislature Over Revenue Transparency

We see debates over spending in politics all the time. How much should we spend? Where should we spend it? It’s about 90 percent of what our government does. More rare are debates over how the government accounts for its revenues, yet that’s a topic Governor Doug Burgum dug into this legislative session (I’m sorry,

Don’t Spend the Legacy Fund (Unless You Spend It in My Back Yard)

I’ve long argued that the pot of billions of taxpayer dollars we call the Legacy Fund represents a moral hazard. Which is to say that it’s a pile of money created for no defined purpose that will now but the subject of much hypocritical political wrangling. For some insight into what I’m talking about, witness