By Eric Rosario
(Tumon, Guam) Sen. Jim Moylan does not believe the rose-tinted revenue tracking presented by the governor's budget director, Lester Carlson, in a meeting of the Special Economic Service held Thursday. He wants the governor to submit a new budget proposal for the upcoming fiscal year 2021, which starts on October 1 this year.
In a letter to Gov. Lou Leon Guerrero Friday morning, Mr. Moylan wrote:
"We are in a global recession, and while we anticipate an economic stimulation from the infusion of the millions in federal monies which will be in the hands of island residents within weeks, the reality is that from a fiscal perspective, that 'may' only allow our government to address its basic expenses until the end of this fiscal year. So, what happens next? With this in mind, I would like to humbly request that your administration submit a revised budget proposal for Fiscal Year 2021."
The senator said he hopes the governor's revenue tracking (which is only one percent below adopted revenue levels for fiscal year 2020), materializes, but fears the government will end up shortchanging the people of Guam if responsible measures are not taken now to cut the FY2020 budget and address a new FY2021 budget that reflects the current need for cuts.
No budget problem? Then pay tax refunds
"Since we are on the discussion of yesterday’s SES meeting, and considering that the Budget Director is optimistic that projections will be met for the remaining months of FY20, and that the administration does not intend on making any adjustments towards expenses, I would like to request that all outstanding tax refunds be expeditiously paid out. This would certainly assist in additionally infusing the economy, and will help the many families who are not benefitting from the cash payment program announced by your administration earlier in the week." - Sen. Moylan to Lou Leon Guerrero
