Folks across Minnesota are experiencing economic hardship that hasn’t been felt since the Great Depression. Statewide, unemployment has reached 7.4 percent and 217,000 Minnesotans are looking for work. For the State Legislature, these stats are both troubling and a call to action. Lawmakers have been aggressive about getting our hard-working residents back on the job since the Legislative Session began Feb. 4.
Both houses have passed a Capital Investments Bill, or a “bonding bill” that funds public works projects across the state and has the potential to create 10,000 jobs. Every two years, the state appropriates money for projects that have a long-term benefit to the state. Typical projects include higher education improvements, transportation and public safety projects, and projects that enhance local communities, environment and promote economic development.
The bonding bill targets shovel-ready projects that can begin in with the spring construction season. We’ll be taking advantage low interest rates and aggressive construction bidding that is coming in one-third lower than expected. That means Minnesota tax dollars can be stretched further and have greater impact.
This bill has the right priorities. Of the $1 billion in projects, almost $370 million will go toward Minnesota’s colleges and universities, $170 million toward transportation and $250 million for environment and natural resources. These projects will put people back to work and will also improve the state’s assets.
State Economist Tom Stinson says this bill will help alleviate looming budget deficits the state is facing by getting workers back on the job and paying taxes. Lawmakers will have to find a way in the next few months to balance a state budget facing a $1.2 billion deficit. Once we do that, we’ll face an even deeper hole, as projections for the next fiscal year’s budget deficit are estimated at $5.4 billion.
It’s interesting to note that since taking office seven years ago, Governor Pawlenty has faced a budget deficit in all but two years. Quick fixes to the state budget have proved to be fiscally irresponsible and now Minnesota is paying for it. It’s time to take a hard look at the budget structure and lay plans for long-term stability.
But I am prepared to work with the Governor and other lawmakers to balance the budget and make hard decisions on the state’s future. Some of the Governor’s proposals in his speech have my support such as giving incentives to small and emerging businesses that create jobs for hard-working Minnesotans. I look forward to working with the Governor on other efforts to create jobs.
It’s important that your voice should be heard when legislators make decisions. Please contact me with your suggestions at (651) 296-4346 or rep.lyle.koenen@house.mn. I look forward to hearing from you.
Rep. Lyle Koenen represents District 20B which includes Renville and Chippewa Counties and part of Yellow Medicine County.
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Folks across Minnesota are experiencing economic hardship that hasn’t been felt since the Great Depression. Statewide, unemployment has reached 7.4 percent and 217,000 Minnesotans are looking for work. For the State Legislature, these stats are both troubling and a call to action. Lawmakers have been aggressive about getting our hard-working residents back on the job since the Legislative Session began Feb. 4.
Both houses have passed a Capital Investments Bill, or a “bonding bill” that funds public works projects across the state and has the potential to create 10,000 jobs. Every two years, the state appropriates money for projects that have a long-term benefit to the state. Typical projects include higher education improvements, transportation and public safety projects, and projects that enhance local communities, environment and promote economic development.
The bonding bill targets shovel-ready projects that can begin in with the spring construction season. We’ll be taking advantage low interest rates and aggressive construction bidding that is coming in one-third lower than expected. That means Minnesota tax dollars can be stretched further and have greater impact.
This bill has the right priorities. Of the $1 billion in projects, almost $370 million will go toward Minnesota’s colleges and universities, $170 million toward transportation and $250 million for environment and natural resources. These projects will put people back to work and will also improve the state’s assets.
State Economist Tom Stinson says this bill will help alleviate looming budget deficits the state is facing by getting workers back on the job and paying taxes. Lawmakers will have to find a way in the next few months to balance a state budget facing a $1.2 billion deficit. Once we do that, we’ll face an even deeper hole, as projections for the next fiscal year’s budget deficit are estimated at $5.4 billion.
It’s interesting to note that since taking office seven years ago, Governor Pawlenty has faced a budget deficit in all but two years. Quick fixes to the state budget have proved to be fiscally irresponsible and now Minnesota is paying for it. It’s time to take a hard look at the budget structure and lay plans for long-term stability.
But I am prepared to work with the Governor and other lawmakers to balance the budget and make hard decisions on the state’s future. Some of the Governor’s proposals in his speech have my support such as giving incentives to small and emerging businesses that create jobs for hard-working Minnesotans. I look forward to working with the Governor on other efforts to create jobs.
It’s important that your voice should be heard when legislators make decisions. Please contact me with your suggestions at (651) 296-4346 or rep.lyle.koenen@house.mn. I look forward to hearing from you.
Rep. Lyle Koenen represents District 20B which includes Renville and Chippewa Counties and part of Yellow Medicine County.
