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State Representative Rod Hamilton
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-5373
For more information contact: Jason Wenisch 651-296-2317
NEWS RELEASE
HAMILTON EXPRESSES CAUTION WITH LATEST BUDGET FORECAST
ST. PAUL –State Representative Rod Hamilton (R-Mountain Lake) says the February budget forecast shows that Minnesota’s economy is in good shape.
“A budget surplus is always good news,” Hamilton said. “But we have to make sure we don’t use this windfall as a reason to increase spending across the board. We still have to live within our means.”
State economists recently found little change in the budget outlook for Fiscal Years 2008-2009, as Minnesota now has $7 million less at its disposal than previously forecast last November. Specifically, Minnesota now has a $1.013 billion surplus for Fiscal Years 2006-2007, and $2.163 billion available for FY 2008-2009.
But while the fiscal outlook is promising, Hamilton said it will be important to use caution when determining how to spend this windfall, as economists project a tighter outlook for Fiscal Years 2010-2011.
“We will continue to take testimony in our committees to find out where our most pressing needs our, and determine what is the best way to allocate this money,” Hamilton concluded.
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