Senate Appropriations Chairman Mike Morgan Comments on First Quarter Revenue Report

“After two years of almost dreading the next report on the state’s revenue picture, the first quarter numbers are certainly welcome news.

“But we can’t lose sight of the fact that we have a long ways to go and a couple of sizeable hurdles still in our way. We utilized more than $200 million in one-time money to bridge last year’s budget gap – money we won’t have next session.

“And while our first quarter numbers are good, the growth in state revenues is based largely on increases in gross production taxes resulting from higher than anticipated energy prices.

“We may be on our way to economic recovery in Oklahoma. Let’s hope we are and let’s hope that eventually leads to a sustained increase in state revenues. But it would be irresponsible for us to think that these early gains should signal a return to the spending patterns of the 1990s or spawn legislation that would result in a reduction in state revenue.”