State Representative Greg Davids (R-Preston) said if you ever needed any proof that Republican budgeting works, check out the latest economic forecasts.
Minnesota economists recently announced that our state has another unexpected windfall of $300 million. Davids said the 2012-13 budget was created by Republicans to eliminate a $5 billion deficit, and that budget cycle will end on June 30.
“We have not had a negative budget forecast since our budget was signed into law, and the economy continues to dramatically improve with each update,” Davids said. “This is happening because – unlike legislative Democrats this year – we eliminated wasteful spending and did not raise taxes on all Minnesotans.”
State economists say the $300 million will allow Minnesota to fully replenish its reserves and pay down money it still owes local school districts.
But Davids said he expects to see much different economic forecasts during the 2014-15 budget cycle. Legislative Democrats crafted that budget plan, which included $3 billion in new, permanent spending and more than $2 billion in tax increases on all hardworking Minnesotans.
“Had we continued down this path of economic success, we would have had plenty of money to spend on worthwhile programs over the next two years,” Davids said. “Instead we raised taxes on everyone, which is going to result in decreased job investment and decreased spending and will deliver a huge blow to our state’s economic standing.”