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Minnesota House of Representatives

State Representative Denny McNamara

359 State Office BuildingState Office Building
100 Rev. Dr. Martin Luther King Jr. Blvd.
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For more information contact: Jason Wenisch 651-296-2317

Posted: 2006-11-30 00:00:00
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NEWS RELEASE

REP. McNAMARA DISCUSSES STATE BUDGET SURPLUS

ST. PAUL – State Representative Denny McNamara (R-Hastings) said Minnesota’s state budget surplus results from wise planning by House Republicans and Governor Pawlenty over the past four years. The Minnesota Department of Finance recently reported that Minnesota’s surplus is nearly $2.2 billion - $1.03 billion for Fiscal Years 2006-2007, and $1.08 for Fiscal Years 2008-2009. McNamara also noted that if you figure in inflation, the projected budget surplus for FY ’08-08 is nearly wiped out.

“This proves that Republicans made good decisions while facing a $4.5 billion deficit in 2003,” McNamara said. “This is a $6.7 billion turnaround in just four years, and now we have the opportunity to do some great things.”

McNamara said it its important to recognize that $1 billion of this surplus is one-time funding, meaning it should be spent on one-time programs. He added that during the upcoming budget setting process, programs like education will receive significant funding increases, but that those increases should not be tied to the state’s projected windfall.

“It is crucial that we find ways to use this money on one-time projects – like road improvements or property tax relief,” McNamara said. “By being careful and using this one-time money to increase funding for ongoing programs, we will lessen the possibility of future budget deficits.”

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