Senate Republicans are preparing to introduce another proposed constitutional amendment, one that would cap state spending at 2 percent below the state's projected revenue.
The proposed amendment is being authored by Sen. Julianne Ortman, of Chanhassen. She chairs the Senate tax committee and is scheduled to hold a press conference outlining her plans on Tuesday.
Sen. Michael Jungbauer, R-East Bethel, was circulating a version the proposed amendment among Republicans. He said he hopes the entire Senate GOP caucus will sign off on the measure.
"A constitutional amendment to look at the projected income of the state, what we've got coming in and spend no more than 98 percent of that, and put 2 percent aside in a rainy day fund, or whatever you want to call it," Jungbauer said.
Jungbauer said the aim is to look at the actual numbers and projections, and set spending based on that, rather than let the "automatic escalators" go through and have to face the same scenario every year.
Republicans in the House have proposed a different amendment to limit state spending. It would require a three-fifths majority in the Legislature to agree to raise any taxes. There are also several other proposed amendments on the table at the Capitol, including one that would ban same-sex marriage.
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