Dems: Rerserves Are The People's Money
Air Date:01/21/2011
By Kealey Bultena
Republicans and Democrats at the Capitol are split over money the state has in reserves. Democrats want to use reserves to lessen the blow of budget cuts.
Senate Minority Leader Jason Frerichs says lawmakers should use the reserve money, because it belongs to the people of South Dakota.
"We want to keep the people’s money, get that money back in the hands of the people. Often times there’s political rhetoric that say, ‘Don’t tax us any more. We need to keep the tax dollars back in the hands of the people that paid those taxes.’ In this case, why should we as a state hoard those tax dollars in reserve accounts for many years to come? We need to find ways that we can use those reserves in a strategic fashion, and what better way than to make sure we can fund education as well as Medicaid," Frerichs says.
Frerichs says Democrats want to use part of the reserves, not drain the account. But Republicans argue using reserves is a quick fix that won’t solve the structural deficit.
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