For Immediate Release: February 20, 2007

Senate Leaders Urge ‘Extreme Caution’ with Revised Budget Estimates

Republican leaders of the Oklahoma State Senate commented on revisions to revenue estimates adopted by the Board of Equalization Tuesday for the upcoming 2008 fiscal year.

“While we are pleased to see the Equalization Board lower its estimate of new money available for the Legislature to appropriate, we remain concerned that the estimates may continue to paint too rosy a picture because of the national economic climate and overspending by previous Legislatures,” stated Senate Co-President Pro Tempore Glenn Coffee, R-Oklahoma City.

Senate Appropriations Committee Co-Chairman Mike Johnson, R-Kingfisher, said, “The Legislature must exercise extreme caution in developing next year’s budget. We should not repeat the mistakes of the 2002 session when the Legislature appropriated money based on faulty revenue estimates, resulting in a budget shortfall.”

For more information contact:
Senator Coffee's Office - (405) 521-5654
Senator Johnson's Office - (405) 521-5592