The way local governments raise their money needs to change

Andrew M. Santos

This article isn’t an anti-tax manifesto. Nor is it a suggestion that city governments bet big on some farfetched financial markets scheme.

What it is: a spotlight on a proposal from a group that’s not exactly a household name, dealing in what may seem to be an arcane topic — except that their idea just might have the ability to change nearly everything about the American economy and civil society.

The proposal comes from the Government Finance Officers Association, a national lobby group for the people who run city budgets, and it suggests a radical overhaul of the way we fund local governments, a rethink that could reduce inequality, help balance municipal budgets, and create better and more fair regional economies.

The “rethinking revenue” project is necessary, the GFOA task force writes, “because local government revenues have not remained aligned with modern economic realities.”

Consider: most services — beauty salon

Read More