Governor Lou Leon Guerrero said her administration can work with the budget that the Legislation just finished discussing Thursday night.
In an interview with Patti Arroyo on NewsTalk K57, the governor said Adelup has been following the budget proceedings closely, with Bureau of Budget and Management Research head Lester Carlson testifying in the Legislature almost daily.
While the final budget that the Legislature has come up with is not exactly what Adelup wants, the governor said the numbers are “close enough.”
“It’s a budget that we can work with,” the governor said.
She is particularly thankful that the business privilege tax was not rolled back. Sen. James Moylan tried to introduce legislation that would roll back the BPT. However, Moylan’s attempts were voted down.
But the governor has often asked and challenged those in favor of a BPT rollback where they would get the funding to replace the money that the BPT provides if the tax is rolled back.
“I’m glad the BPT was not rolled back. Otherwise, crucial services would have been adversely affected,” the governor said.
She assured that any excess revenue will go back to the general fund to reduce the GovGuam deficit.
“I also want to pay down our debts because that gives us more cash for our operations. I also want to continue maintaining our rainy day fund. These are measures that make our economy strong.,” the governor said.