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 Saturday, September 04, 2010
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| FKG Legislative Report: January 30, 2010 |
| Saturday, January 30, 2010 |
Governor and Legislative Leaders Reach Agreement On the FY 2010 Budget
With a budget agreement in hand, the Governor will address the opening session of the 52nd legislature on Monday by giving his annual State of the State address. Governor Henry and legislative leaders (Speaker Chris Benge and Senate President Pro Tem Glenn Coffee) reached this week an agreement on the remainder of the 2010 budget. The agreement calls for a continuation of the 10% cuts to most agencies until the end of June. Some agencies (education, health care, public safety) will receive appropriations from the state’s Rainy Day Fund and/or from federal stimulus dollars to help offset part of the cuts. Assuming both houses agree to the plan, the legislature will then focus its attention on the FY 2011 budget, which is projected to be $1.3 billion less than the current appropriated amount. As is the case in most years, a final agreement on next year’s budget is not expected until sometime late in the session which will end no later than the last Friday in May.
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| FKG Pre Session Legislative Report: January 24, 2010 |
| Sunday, January 24, 2010 |
Revenue Failure and the State Budget
Oklahoma’s changing political landscape, coupled with a significant shortfall of state revenues, has presented tremendous challenges for state lawmakers as they examine ways to fill budget holes caused by the current national recession. The Governor and legislative leaders must work within significant constraints. The state constitution requires a balanced state budget. Furthermore, tax increases may only be approved with a three-fourths vote of the legislature or by approval of the state’s voters. From a practical standpoint, therefore, state leaders must decide how to adequately fund state services without the benefit of deficit spending and minus any new infusions of tax revenues.
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