Louisiana’s Bond Commission, chaired by State Treasurer John Fleming, made an important pro-taxpayer move recently when it decided to allow a number of banks to underwrite state bonds. The banks were in danger of being blacklisted due to their association with environmental organizations—a move that could have cost taxpayers millions in higher financing costs.
As some red states are effectively trying to punish certain corporations for political reasons, it’s imperative for government officials to prioritize their fiduciary responsibilities to taxpayers above all. That means working with companies that will provide the lowest costs and highest quality goods and services. Indeed, that’s what taxpayers want to see—NTU’s recent poll shows that 75 percent of taxpayers believe that government officials should not punish companies for their private business decisions. Louisiana is embracing this principle, thereby setting an example for other states—red and blue—to follow.
Fleming’s move builds upon his record as a member of the United States House of Representatives, where he earned NTU’s “Taxpayers’ Friend Award” an impressive three times and consistently demonstrated a pro-taxpayer record.
Hopefully Fleming will continue to build upon that work as treasurer and reduce inefficiency and unnecessary expenditures for Louisiana taxpayers.