These amendments to the General Bill cost more than they save
Wednesday, March 11, 2015
The 2015 Legislative Session for the SDSEO has been one of both calm and furor. While we were not faced with a barrage of negative original bills, and for the first time in what feels like forever our healthcare wasn't going to cost us even more, we caught more than our fair share in proposed amendments to the general bill, HB 1208. The amendments are here. Numbers 2, 3, and 4 are bitter pills.
Yes, combined, they add up to $15.055 million. But they don't go together like that, as the second and fourth each have components that are the same: a 50% reduction in movement toward market value.
And while the "savings" for the general fund is a slim $2.2 million for the second and under $2 million each for the third and fourth, that leaves the remainder of federal and other funds forever being lost to the employees and the state's economy. That lost sum is $3.57 million for the second of the amendments, $2.879 million for the third, and $2.653 million for the fourth. The state's economy will not receive a single cent of those millions. In fact, due to the loss of federal funds, we can't even recoup the federal tax dollars we paid into the system. Does that make any sense?
Categories: Appropriations Committee, Legislative