Early voting for the November 8th election begins tomorrow, and voters will have eight Constitutional Amendments to decide, as well as local and congressional races. LRN will break them down for you, one at a time. Today: Amendment One. Steven Procopio with the Public Affairs Research Council of Louisiana (PAR) says CA 1 proposes raising the current cap on moneys in state funds that can be invested in the stock market…
“They can only invest 35-percent of the money in the stock market. This would increase it to about 65-percent of the funds,” he says.
Voting “yes” on Amendment One would allow the State Treasurer more leeway in investing and growing state funds. Though not mentioned implicitly in the amendment, lawmakers intend that any investment windfalls from passing CA 1 go toward education in Louisiana. Procopio says it’s a sound idea, when the markets are stable…
“Over the long haul, generally, the stock market will give you a better return. However, as we’ve seen recently, the stock market can also be risky and so it can lead to short-term losses.”
Procopio says voting “no” on the amendment will maintain the same 35-percent limit on investing state funds; playing it “safe”…
“A no vote will say ‘keep it like it is’; a relatively low risk…and a yes vote says ‘let’s try and make more investment dollars’ that we can use to fund education primarily.”
PAR does not make any recommendations on HOW to vote; they merely seek to educate voters. Early Voting for the November 8th election begins tomorrow, and runs through Tuesday, November 1st. LRN will feature each Constitutional Amendment on the ballot between now and Election Day. There will be another three amendments when voters return to the polls in December.
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