Fiscal conservatism doesn't always mean tax cuts, writes QuinHillyer.
Pringle noted that in Alabama , a major part of the unusual surpluses is money coming through the national American Rescue Plan Act of 2021, which was a pandemic-relief measure.
“It’s all going away and it’s going to end; there’s no more ARPA money coming down,” he said on Mobile's."This economy is going to crash. You can bank on it. And when it does, our revenue is going to plummet. We could go back to what we were faced with in 2012 when we had no money.” Pringle also noted that President Joe Biden's inflationary policies mean that items already in the state budget will end up costing more than projected.
"All of our expenses have gone up," Pringle said. “The cost of concrete’s going up; the cost of steel is going up; so we start building roads and bridges and all that’s expensive. ... All of our costs are going up because of the inflation.” Yet all across the country, Democratic state legislators especially are eager to spend the largesse, while Republican-dominated legislatures already havewhile talking big about more tax cuts to come. This is not smart. Even without huge inflation such as the United States is now experiencing, one-time revenues dry up.
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