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State Representative Joe Schomacker
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-5505
For more information contact: Jason Wenisch 651-296-2317
NEWS RELEASE
REP. SCHOMACKER SAYS NOW IS NOT THE TIME FOR A BORROW AND SPEND BILL
ST. PAUL – State Representative Joe Schomacker (R-Luverne) said he was troubled with Governor Mark Dayton’s recent announcement that he believes Minnesota needs to quickly approve a capital investment bill. Dayton wants to borrow $1 billion in order to fund construction projects throughout Minnesota.
“Minnesota is already $6.2 billion in debt,” Schomacker said. “Borrowing another $1 billion is only going to make matters worse. At some point when you’ve dug yourself into a hole, you need to stop digging.”
Dayton proposed borrowing $531 million for projects he wants constructed, and suggested that the Legislature come up with a plan that would borrow an additional $470 million to complete his bonding bill initiative.
“We keep hearing we need this bonding bill to stimulate job growth in Minnesota, but no one is mentioning that we already have $1.1 billion sitting in limbo from previous bonding bills because those projects haven’t been started,” Schomacker said. “These projects are always advertised as shovel-ready, but if that’s the case, why hasn’t that money been spent?”
“Let’s be clear, I would support a bonding proposal for emergency purposes, but I don’t see the need to borrow more money now when Minnesota is already facing a yet-to-be solved budget crisis,” Schomacker concluded.
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