RELEASE: Bullock to Blame for Montana’s Fiscal Disaster
HELENA, MONT. – Chairman Debra Lamm released the following statement today on the fiscal disaster Governor Bullock has left the state in:
“I find it completely unacceptable that Governor Bullock refuses to take responsibility for the fiscal disaster he created. Bullock’s liberal spending spree has finally caught up with him: He inherited a surplus of over $500 million, ran it into the ground, and now we’re left with a tax revenue short-fall of $75 million. This is beyond fiscal mismanagement – this is complete incompetence. Bullock failed to show fiscal discipline and failed to prioritize our spending needs. It’s absolutely clear that responsibility for this fiscal disaster lies squarely with Governor Bullock.”
MTN News: ‘State Budget Headed for Deficit Spending … Tax Revenues Not Meeting Expectations’
The Bullock administration will announce Wednesday it’s asking most state agencies for plans to cut 10 percent of their budget, to avoid deficit spending as state tax revenue flags and firefighting costs escalate, MTN News has learned.
Any spending cuts ordered by the governor apparently would be in addition to nearly $70 million in cuts already imposed when state revenue failed to meet certain targets on June 30.
The law requiring the latter cuts also transferred $30 million out of the state’s firefighting fund to cover budget shortfalls elsewhere in state government.