Posted 3/7/01
Governor believes his budget is sound and will use veto if needed
By T.W. Budig
ECM capitol reporter
Gov. Jesse Ventura returned from the recent National Governorís Conference in Washington D.C. chagrin by what he sees as slavish adherence to government in America.
He supports President Bushís proposed tax cuts ñ canít comprehend the idea that government is better prepared to spend money than private individuals.
ìWell, I want mine (tax cut). Youíre doggone right I do,î said Ventura last week (Feb. 28, March 2).
Ventura believes his proposed 2002-2003 biennial budget ñ the administrationís tax reform package ñ is a sound fiscal approach lending greater accountability, providing tax cuts, and creating a tax system more responsive to the modern consumer-based economy.
The Administration bills its 2002-2003 biennial budget as reflecting a 5.4 increase in spending over the previous biennium.
Government in Minnesota last biennium grew by about 13 percent, said Ventura. And thereís no way itís going to grow 25 percent during his four-year gubernatorial ìwatch,î he said.
ìI will veto. And if they (the Legislature) override me, hey, Iím doing my job,î he said.
While the February forecast downsized the current budget surplus by $67 million to $856 million, dollars Ventura proposes for next summerís rebate, the milder forecast does have the administration taking smaller incremental steps towards its half a percent income tax cut proposed for 2003.
Other adjustments are proposed. But Ventura said that the fine tuning to the budget was expected and minor. It all still hangs together, he explained.
The main thing the state must do to remain fiscally healthy is cut property taxes, said Ventura. ìTheyíre killing us economically. Theyíre killing us in the business world,î he said.
The governor proposes to cut property taxes by some $800 million by the state assume the full cost of basic K-12 education.
Though proposing to reduce the state sales tax to six percent, the governor proposes to expand it to services ñ politically a difficult step.
But expanding the sales tax would capture about $446 million in revenue annually. This would help offset Venturaís property and income tax cuts that along with other proposed reductions will top about $1 billion a year.