Spending Restraint Improves Fiscal Outlook, More Work Needed
Minnesota’s Leading Organization on Economic Freedom Responds to February Budget Forecast
MINNEAPOLIS, Minnesota—Americans for Prosperity-Minnesota, the state’s premier free market grassroots organization committed to smaller government and economic freedom, today issued a statement on the updated February economic forecast provided by the Minnesota Office of Management and Budget (MMB). The MMB forecast released Thursday shows a $463 million improvement in the FY2014-15 projected deficit, from $1.1 billion to $627 million. Additionally, Fiscal Year 2012-13 is now projected to have a positive balance of $295 million.
“Today’s report is welcome news, but the work toward a sustainable budget and long-term economic growth is far from over,” said John Cooney, Minnesota State Director of Americans for Prosperity. “Minnesota still faces a budget deficit in the next biennium, and the best remedy is real spending restraint and job growth through policies that promote a vibrant, thriving economy. We encourage all elected officials to demand and prioritize policies that protect Minnesota families by growing the economy, not the government.”
Today’s economic forecast comes just one day after the first legislative hearing on Gov. Dayton’s proposed $3.6 billion in new job-killing taxes that would affect all Minnesotans.
“The progress made over the past two years should not be undone by the higher taxes and more spending proposed by Gov. Dayton and Democratic leaders,” said Cooney. “Rather than reversing the course of fiscal responsibility in pursuit of higher taxes and bigger government, Gov. Dayton should focus instead on the long-term growth strategy of sensible governance through lower spending, decreased regulation and a free market economy that allows families and businesses to succeed.”
Americans for Prosperity (AFP) is a nationwide organization of citizen-leaders committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and intrusiveness of government is the best way to promote individual productivity and prosperity for all Americans. For more information, visit www.americansforprosperity.org
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