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Kilmer's plan a worthy idea for economic boost

Keeping track of what the state Legislature is doing during session is kind of like watching television: You have to sit through a lot of garbage before you find something truly worth watching.

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Published: 02/07/12 3:33 pm | Updated: 02/07/12 3:33 pm
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Keeping track of what the state Legislature is doing during session is kind of like watching television: You have to sit through a lot of garbage before you find something truly worth watching.

We doubt we’re alone in that assessment, given the Grand Canyon-like chasms between revenue and spending plans that are becoming routine in Olympia, not to mention lawmakers’ usual remedies: budget gimmicks, and tax-and-fee proposals, like Gov. Chris Gregoire’s plan to have the public “buy back” education dollars.

To be sure, this session has produced its share of dubious proposals — think a $1.50 fee (or tax, depending on your point of view) per barrel of oil, a ban on plastic bags and the creation of a state bank. Thankfully, these and other equally bad ideas appear dead — at least for now.

But it’s not all negative news. At least one idea with possible bipartisan appeal has been brought to the forefront. It’s in idea that, at the very least, deserves serious consideration.

It’s the capital investment proposal put forth by Sen. Derek Kilmer, D-Gig Harbor, a man who knows a thing or two about economic development. Kilmer’s plan is to make strategic investments in infrastructure now and take advantage of low costs for labor and materials in the hungry-for-work construction industry. Financing would come via revenue bonding.

While a healthy dose of skepticism is certainly warranted regarding any government spending plan promoted as a jobs package, we don’t believe it’s prudent to be so mistrustful of government that it causes the dismissal of an idea with potential merit.

As Kilmer has pointed out, the government is going to pay for things like sewers, water lines, highways, ports and schools anyway, so why not do it at bargain-rate prices?

Sure, the jobs produced under this plan would be temporary, but the improved infrastructure would lay the groundwork for private investment and permanent jobs, both of which are key to improving the weak economy.

Other benefits: No new taxes, an aspect of Kilmer’s proposal that should appeal to both the public and politicians alike. Then there’s the fact that the plan calls for the use of revenue bonds, not general obligation bonds, meaning there would be no adding to the state’s general obligation debt.

We don’t pretend to know what the final version of this proposed legislation would look like, or even if it will end up passing the Legislature. We do think, however, an idea that could put people to work now and set the stage for future long-term economic expansion is worthy of thoughtful examination.

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