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House Republican Statement on Quarterly Revenue Update
St. Paul- Minnesota Management and Budget (MMB) announced Thursday that state revenue intake was below projections for the first quarter under the Democrat-passed budget for Fiscal Year 2014-15. House Republican Deputy Leader Jenifer Loon (R-Eden Prairie) issued the following statement on the announcement.
"Governor Mark Dayton and Democrat majorities' budget, effective July 1st, forces hardworking taxpayers to pay more when they can least afford it for excessive government spending. The simple fact is our state spending is far-outpacing our state’s economic growth. Today's news is a departure from the positive trajectory state revenues have been on for the last two years," said Rep. Loon.
Thursday's announcement from MMB comes just ten days after the state closed the books on the Republican-passed budget for Fiscal Year 2012-13. According to MMB, the Republican-passed budget ending June 30, 2013 exceeded projections by more than $3 billion.
"Despite the positive results from the Republican-passed budget of the last two years, Democrats decided to take the state in the opposite direction this legislative session. Between Democrats' damaging tax increases already in effect and the upcoming impact of Governor Dayton's warehousing tax and health insurance exchange, the road to a healthier economy in Minnesota just got steeper."
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