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Taxpayers for Interest-Free Financing...(TIFF) is a political
action committee (PAC) formed for the purpose of encouraging
government units to start saving years in advance of expected
capital improvements. By funding capital improvements from a
savings account, rather than selling bonds at the last minute,
the added cost of interest payments is avoided. In addition,
savings accounts gather interest income.
Interest-free financing goes by different names. Some of these
are:
* Debt-free financing
* Pay-as-you-go financing
* Zero-interest financing
* Build-as-you-collect financing
* Plan-ahead financing.
TIFF's purpose is not to oppose tax-funded projects that serve a useful purpose. Its purpose is to oppose financing methods that result in wasteful interest costs. Therefore, the TIFF will focus on the early decision-making process where both the scope of an improvement project and the method of financing are decided. In most instances, interest-free financing will be advocated. Debt levels of a few government unites are listed on page [X] DEBT LEVELS AND THE ASSOCIATED COSTS
TIFF is a stem name for a PAC. Accordingly, the tactical working name, Taxpayers for Interest-Free Financing..., will change as the target changes, for example: "Taxpayers for Interest-Free Financing of School Buildings". Funds left over from a specific project will be donated to the target public agency. As of this update, TIFF is an inactive PAC. However, TIFF may be activated at any time.
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Paid for by:
Taxpayers for Interest-Free Financing...(TIFF)
1641 Hess Blvd.
Columbus, OH 43212
Bill Buckel, Treasurer, Ph. 614--488-8963