News Release
Martz Ranked 9th Nationally For Fiscal Policy
9/23/2002
Meta Boyer
406-444-5665
meboyer@state.mt.us
"Our ability to manage state government expenditures within budget parameters is key in these tough economic times. Our administration is willing to make the difficult budget decisions necessary to move this state forward, and I am pleased that the Cato Institute recognizes this in their ranking," said Governor Martz.
Martz was also rated 5th in the nation for her 'Average Annual Recommended Change in Real per Capita General Fund Spending through 2003', an indication of the amount of government spending per person in Montana.
According to the Cato Institute, "Martz's contributions have included her aggressive tax reform plan and prudent budget proposals... her proposed budgets have grown no faster than the rate of inflation. Her tax reform plan, proposed in early 2002, would drop personal income tax rates by eliminating the federal income tax deduction but lowering the top state rate from 11 percent to less than 7 percent. Montana has one of the highest income taxes in the country, which Martz knows is harming state economic development. When the fiscal year 2003 budget fell into deficit, she called a special session to cut spending, and proposed $24 million in cuts including a state hiring freeze."
The report goes on to say, "Martz should be applauded for holding the line on taxes and most spending proposals." The report also mentioned the revenue-neutral tax plan that Governor Martz plans to release in January that will cut income taxes but raise some targeted taxes.
This is the sixth Cato Report Card on Governors. According to the Institute, the report presents the findings of Cato Institute's sixth biennial fiscal policy report card on the nation's governors. The report card's grading is based on 17 objective measures of each governor's fiscal performance. Governors who have cut taxes and spending the most receive the highest grades. Those who have increased spending and taxes the most receive the lowest grades.
For more information about the report, go to the Cato Institute's Web Site at http://www.cato.org/, and click on the 2002 Governor's Report Card.
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