Tag Archives: legacy fund

Print Column: We’re Going to Do Something Stupid With the Legacy Fund

Print Column: We’re Going to Do Something Stupid With the Legacy Fund

MINOT, N.D. — We’re going to end up doing something really, really dumb with the Legacy Fund. It was created by the North Dakota Legislature, with approval from the voters, back in 2010. As of February the fund had about $5 billion in it thanks to revenues from oil and gas development. Yet, at this

Plain Talk: Is the Legacy Fund at Risk From Initiated Measures? and Some Thoughts on the Demise of the Sunday Close Law

Lawmakers in Bismarck are debating reforms, but as the law stands now North Dakota’s initiated measure process is wide open. Interests with a lot of money can pay to have their signatures collected, pay for a slick marketing campaign, and change the state’s laws. Even our state’s constitution. With billions of uncommitted dollars sitting in

Plain Talk: Congressman Armstrong Takes Listener Questions, House Passes Bill to Eliminate Income Taxes With Legacy Fund

On this episode of Plain Talk, yesterday the state House passed a bill to eliminate North Dakota’s income taxes using Legacy Fund earnings. Is it a good idea or bad? Democrats are claiming the bill will make the state more dependent on oil taxes, but is that true? Also, Congressman Kelly Armstrong answers listener questions

State Rep. Craig Headland Mike McCleary / Bismarck Tribune

House Passes Bill to Use Legacy Fund to Replace the Income Tax, Democrats Incorrectly Say It Will Make State More Reliant on Oil Taxes

Not so long ago I interviewed Rep. Craig Headland for Plain Talk about his bill to use Legacy Fund earnings to replace the personal and corporate income taxes. Here’s the audio: The bill, HB1530, would transfer Legacy Fund earnings into an income tax reduction fund. Over time that fund would be used to replace income

Plain Talk: Lawmaker Makes the Case for Using Legacy Fund to Abolish North Dakota’s Income Tax

State Rep. Craig Headland, a Republican from Montpelier and Chairman of the House Committee on Finance and Taxation, has introduced legislation to use earnings from North Dakota’s multi-billion dollar Legacy Fund to eliminate the income tax. Both the personal and corporate taxes would be eliminated under his plan. Also Dr. Joanne Luger, a Bismarck-based Dentist,

Plain Talk: Does Klobuchar Have a Chance in a Democratic Party That’s Shifted So Far Left?

Minnesota Senator Amy Klobuchar launched her campaign for the Democratic party’s presidential nomination this weekend. Klobuchar styles herself as a moderate and pragmatist from flyover country. An antidote to the struggles Democrats faced in the 2016 election when it came to winning over voters in states like Wisconsin. In fact, Klobuchar has vowed to make

Former North Dakota Governor Ed Schafer Michael Vosburg / Forum Photo Editor

Ed Schafer: In Defense of the Legacy Fund

This guest post was submitted by former North Dakota Governor Ed Schafer. Last December Rob Port posted an article on the Say Anything Blog titled, “It’s Time to Stop Listening to the Legacy Fund Hoarders!” I was surprised to see him write against fiscal conservatism. Since many people seem to have taken Rob’s comments to

Gov. Doug Burgum, left, answers question from members of the House Appropriations Committee's Education and Environment Division on Wednesday in the state Capitol in Bismarck. He is proposing that money from the Legacy Fund proposal be used to build the Theodore Roosevelt Presidential Library Museum at Medora. Mike McCleary / Bismarck Tribune

Plain Talk Podcast: Burgum Opposes Using Legacy Fund Earnings to Replace Income Tax, Talks About Frosty Relationship With State Lawmakers

Governor Doug Burgum was kind enough to be my guest for the first episode of my podcast, Plain Talk. I asked him about what some have described as a frosty relationship between his administration and the Legislature, and he down played it. “We’ve got 141 members in the Legislature, he told me. “The frost advisory

Print Column: Using the Legacy Fund to Eliminate Income Taxes Is an Idea Worthy of Debate

MINOT, N.D. — I’d very much like to live without income taxes. That’s not just a personal desire. One of the biggest challenges to stability and prosperity here are labor shortages and an economy too dependent on commodity-driven industries. Agriculture and energy are great, but it’s a challenge to ride those ups and downs. Eliminating

Smoke rises from the North Dakota Capitol and chimneys of nearly every building and home. Tom Stromme / Bismarck Tribune

It’s Time to Stop Listening to the Legacy Fund Hoarders

In 2009 the North Dakota Legislature passed a constitutional amendment to create a fund out of a portion of taxes on oil and gas development. It was passed by the voters in the 2010 election, and the result is the Legacy Fund which has a balance of around $5 billion. Over the years there have

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