Fiscal Expertise Needed to Balance Minnesota's Future Budgets

 


Hi, I am Rick Olson, DFL candidate for MN State Senate, running against incumbent Republican Eric Pratt.

We have significant financial challenges facing our state. Last February’s revenue projections are about two billion dollars less than the projected spending for each of the two two-year bienniums. 

These earlier projections are now made worse by the federal One Big Beautiful Bill which cuts funds being sent to the state - estimated to be $23.5 billion less in federal Medicaid funding over ten years. Ouch! Now, we can hope that the state’s economy is better and we collect more tax revenue than currently projected, but hope is not a strategy.

Ultimately, we will have three choices in closing the 2-billion-dollar plus gap:

·    Increase taxes

·    Cut some programs or

·    Close tax loopholes

The problem is that each takes money out of somebody’s pockets. Our legislators will need a keen understanding of the tradeoffs and complexities of each of the many options.

My experience in agriculture, school business management, finance, and law prepares me to work hard to protect what matters to you. As a former Centrist-Michigan State Representative, I can work across the aisle when and where necessary to balance our respective priorities without giving up what matters to you.

I would appreciate your support in this campaign.

Prepared and paid for by Olson Senate Committee, P.O. Box 15, Prior Lake, MN 55372



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