Although the start of session is still officially three weeks away, there is plenty of activity at the Capitol. This week will mark the official bill filing deadline on the 15th of the month. There are several committee meetings that will also occur before the State of the State address on Feb. 1st.The budget projections will be about 3-5% lower than last years’ receipts. Because of this, the House will be doing budget committee meetings during the next three weeks with a dual purpose. The first purpose will be to determine how the agency has spent money during the last fiscal year.
All Appropriation and Budget Committees will be reviewing every agency to hold them accountable for their budget spending during the past year. This will help them in the next phase of the budget hearings. The second purpose will be to look at possible budget cuts during the coming year. Although some are pushing for across the board cuts, a more responsible approach is necessary. This approach is to look at each individual agency to determine what cuts can be made. The session I was first elected also demanded large budget cuts. However, at that time there was no money in the Rainy Day Fund. This year, because of the fiscal conservative path the House has followed during the last two sessions, the Rainy Day fund right now is at its Constitutional limit.The dual impact of both the slowing national economy and the drop in oil prices has affected the state budget receipts. Still, the budget picture in Oklahoma is a lot better than in many states. That is why many of the Governor’s have asked the new president for a state stimulus package of 1 trillion dollars. However, Oklahoma does not have to depend on the national budget to continue to function without going into debt. That is the good news. The bad news is…this down economic cycle may last more than one year. That is why, this session, the House Leadership is trying not to dip into the Rainy Day fund to solve this financial dilemma. Next year has the possibility of also being a problem, financially.If you would like to discuss this issue or have any other matters you believe we should discuss, Monday through Thursday, I will be in my office at the capitol. You can reach me there at 405-557-7384 or 800-522-8502. Friday through Sunday, you can contact me at my home in Goodwell or by email at gusblackwell@okhouse.gov
