Citing wasteful spending, Stitt vetoes bills
by Ray Carter, Director, Center for Independent Journalism
May 18, 2020 -- Continuing his emphasis on fiscal conservatism, Gov. Kevin Stitt vetoed four measures on Monday and called on lawmakers to instead eliminate wasteful spending. Among the bills vetoed were two providing state matching funds for “endowed chairs” at Oklahoma colleges, a program that has long been plagued by high taxpayer costs.
Stitt vetoed House Bill 2749 and House Bill 2750, which both dealt with the Oklahoma State Regents’ Endowment Trust Fund. That fund is used to match private donations for endowed chair positions at state colleges.
HB 2749 would have placed a cap of $671.2 million on state matching funds for the program.
In his veto message, Stitt wrote, “Since the State began matching these donations, approximately $500,000,000 has been matched with no input from the legislature or Governor as to what types of chairs and professorships would be matched. Instead of simply placing a cap, the more fiscally responsible course would be to eliminate matching monies altogether.”
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from MuskogeePolitico.com
