Posted on March 8, 2010 by Tim Albrecht in Featured, Press Releases, Press Room
Branstad Proposes New Budget Practices
New policy rollout includes biennial budgets, 5-year planning & an end to bad budget habits
FOR IMMEDIATE RELEASE: Monday, March 8, 2010
Contact: Tim Albrecht (515) 491-2722
(BURNSIDE, Iowa) – Gov. Terry Branstad today rolled out new policy that would end bad budget practices, replace yearly budgets with a biennial budget process, and develop and implement a five-year financial plan for state government.
The proposal can be seen by clicking here.
“It is time to stop playing shell games with taxpayer dollars, stop erratic budget fixes and start talking honestly about the state’s finances,” said Gov. Branstad. “This proposal will end bad budget practices and again bring fiscal responsibility to the state.”
When Gov. Branstad left office in 1999, the state of Iowa had a record $900 million surplus. Most recently, the budget faced a projected shortfall of nearly $1 billion. Gov. Chet Culver then enacted a 10 percent across-the-board cut in state government, causing property tax increases and uncertainty among Iowa’s state departments.
“This method of budgeting will remove the incremental cost increases due to annual budgets, and will provide stability to entities dependent on state resources,” said Branstad. “Implementing a five-year financial plan will meet critical needs while avoiding budget cliffs for years into the future.
“Current practices focus on a year-to-year approach with little regard for impact upon future budgets, new burdens for taxpayers, or ability to meet critical needs.”
Gov. Branstad today outlined his proposal in a speech to students and faculty at Southeast Webster-Grand High School.
For more information on the Governor Branstad 2010 campaign, please visit www.GovernorBranstad2010.com
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