Tuesday, March 1, 2011

Howes: Cuts Still Needed

State economists have adjusted the revenue shortfall for the coming biennium to $5 billion from $6.2 billion. That's a $1.2 billion improvement from last November's forecast.

State Representative Larry Howes suggests deep cuts are still needed, "The news is good, but it shouldn't distract us from continuing our efforts to help people get back to work and make Minnesota a better place to do business.  State revenue is expected to rise by around 9 percent, but that level of growth can't keep pace with the 29-percent rise in spending (to $39 billion) that's set to take place. That's why we have a shortfall to eliminate. "

The budget-setting process is expected to pick up with the updated information. The Constitution requires the legislature to balance the budget before the fiscal year ends in June.

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