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(AUDIO) Gov. Ricketts Vetoes $56.5 Million in Spending to Protect the Budget | KRVN Radio

(AUDIO) Gov. Ricketts Vetoes $56.5 Million in Spending to Protect the Budget

(AUDIO) Gov. Ricketts Vetoes $56.5 Million in Spending to Protect the Budget
Gov. Pete Ricketts signs budget vetoes in his Capitol office on Monday May 15, 2017.

Gov. Pete Ricketts discusses his vetoes with KRVN News Director Dave Schroeder in interview below.

LINCOLN – Today, Governor Pete Ricketts announced he had vetoed a total of $56.5 million in spending from the state budget. On Monday, the Governor returned LB 327e and LB 331e with his signature, but with line-item reductions. Governor Ricketts pointed to the state’s continued decline in revenues in recent months and cautioned against taking the minimum cash reserve lower than 3 percent to allow more spending.

“The state’s revenue picture continues to worsen, and we must take responsible steps to tighten our belts,” said Governor Ricketts. “The budget I received from the Legislature increases the gas tax and relies on budget gimmicks. To prevent a tax increase and protect the budget, I have vetoed a total of $56.5 million. These are thoughtful and measured reductions, and I urge the Legislature to sustain these vetoes.”

Key facts about the Governor’s vetoes:

· They reduce various state agency appropriations by a half of a percent (0.5).

· Some programs and agencies are excluded, including those already reduced by 3 percent or more.

· The budget, after line item vetoes, protects the property tax credit relief fund, Corrections reform, public safety, and state aid to K-12 schools.

On Friday, the Governor had returned LB330e to the Legislature with his signature and with a line-item reduction to delay Capitol renovation funding that is not immediately needed. A copy of the Governor’s full veto messages from today and Friday can be found by clicking here.

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