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State Representative Tony Cornish
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-4240
For more information contact: Jason Wenisch 651-296-2317
NEWS RELEASE
REP. CORNISH: LIBERAL-LED LEGISLATURE SPENDS ITS WAY INTO STATE DEFICIT
ST. PAUL – State economists recently released discouraging fiscal news, projecting that Minnesota now must deal with a $935 million budget deficit. State Representative Tony Cornish (R-Good Thunder) said he was troubled by the forecast, because just one year ago, Minnesota had a significant surplus that could have been saved and used for deficits like this.
“The liberal leadership took a $2 billion surplus and spent it like drunken sailors,” Cornish said. “They spent so much time last year finding new ways to spend money they didn’t have, including throwing tens of millions into expanding our overly generous welfare programs.”
“The result is a $935 million deficit, and I wonder how long it will take before the Twin Cities leaders will demand an income tax increase?”
According to the Department of Finance, factors that led the agency to project a $373 million deficit in November have worsened over the past few months – rising oil prices, a declining housing sector, and tighter credit standards. Minnesota also is feeling the impact of large declines in individual and corporate income tax returns, and a ten percent increase in budget spending over the previous biennium.
“Its ironic that the same folks who blasted us for reducing spending during a budget shortfall a few years back will now be forced to do the same,” Cornish noted. “They spent us into this mess, now they can cut their way out of it. It will be interesting to see which of their special interests they will irritate the most through their budget reductions.”
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