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State Representative Patti Fritz
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8237
For more information contact: Sandy Connolly 651-296-8877
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STATE BUDGET FORECAST REQUIRES DETERMINATION
St. Paul, MN – State Representative Patti Fritz (DFL-Faribault) reacted to the state budget forecast that was released today with resolve, saying that despite a flat-budget, she remains committed to focusing on education, health care and property tax reform.
"This forecast may sustain some areas at the current level, but it won't get us much of an increase," said Fritz.
According to the Minnesota Department of Finance, the budget outlook for FY 2008-09 remains unchanged. A small improvement in the revenue outlook is almost completely offset by a small increase in projected expenditures. The bottom line is a projected budget surplus of $2.163 billion dollars, which is actually closer to $1 billion after inflation is figured in.
In addition, job growth has been flat for the past year, single-family housing starts are down and unemployment in Minnesota is rising.
"This is certainly better than a deficit, but we will have to be extremely cautious as we move forward with our next two-year budget," said Fritz. "The uncertainty with regard to jobs and housing will also need to be factored in."
The forecast that was released today will be used to set the state budget target numbers for the next two years. The Governor has already released his budget, which will likely be revised after today's forecast.
Rep. Fritz said a more progressive tax system may be one way to address the need for increased revenue, such as closing corporate loopholes and increased tax compliance.
"We are not going to take our eyes off of our goal to provide better funding to our schools, bring down property taxes and get affordable health coverage for more Minnesotans," said Fritz. "This forecast today just makes that more of a challenge."
News Items
- STATE REP. PATTI FRITZ PARTICIPATES IN START OF LEGISLATIVE SESSION - (Posted: Jan 9 2013 3:32PM)
- Rep. Fritz: Homeowners, Farmers Need Property Tax Relief - (Posted: 2012-05-01 00:00:00)
- Rep. Fritz: Let’s Vote on a Bonding Bill that Benefits All - (Posted: 2012-04-19 00:00:00)
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