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State Treasurer: “State Finances are Fiscally Sound”

MASON CITY – Wednesday State Treasurer Michael Fitzgerald, State Senator Amanda Ragan and State Representative Sharon Steckman visited Mason City to counter claims that Iowa’s finances are a “mess.” (Press release from Fitzgerald’s office.)
| (Press release from Fitzgerald’s office.)

MASON CITY – Today State Treasurer Michael Fitzgerald, State Senator Amanda Ragan and State Representative Sharon Steckman visited Mason City to counter claims that Iowa’s finances are a “mess.”

“The state of Iowa is in a strong financial position,” Fitzgerald stated. “Governor Branstad is trying to convince Iowans there is a fiscal mess to clean up. I’ve been sending the same message for over a year ñ Iowa is fiscally sound.”

Fitzgerald pointed to a balanced budget, large surpluses, ample reserve funds and a AAA credit rating as indicators to counter the claims.

“Iowa is the envy of many states that are facing serious budget shortfalls. We will end fiscal year 2011 with nearly $1 billion in the bank. It is time to come to an agreement on the budget and move forward,” Fitzgerald urged.

“This is great news for Iowans,” said Ragan. “These additional dollars can help protect Iowa’s local schools and create new jobs. There are now even more reasons why the compromises needed to end the legislative session should be easier to find.”

With nearly $1 billion in the bank, Democrats’ proposal to save the state preschool program and boost school funding by a modest 2% would cost just a tiny percentage of those savings.

“It’s time to break the stalemate over the state budget. The Legislature can fully fund local schools and still have $935 million in the bank,” said Steckman. “Iowans need to call the Governor’s office at 515-281-5211 and let him know there’s no reason to gut our local schools, services for middle-class Iowans and our state’s economic recovery.”

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