~ Statement from Governor Pawlenty in reaction to the Federal Reserve’s emergency decision to cut its benchmark interest rate by three-quarters of a percentage point ~

Saint Paul – The following is a statement from Governor Tim Pawlenty in reaction to the Federal Reserve’s emergency decision to cut its benchmark interest rate by three-quarters of a percentage point.

“The Federal Reserve’s largest interest rate cut in twenty-four years to address deteriorating economic conditions is very welcome news. We also look forward to the President and Congress passing an economic stimulus package, which includes tax relief, as soon as possible.

“We shouldn’t take away the benefits of likely federal tax relief by imposing tax increases at the state level.”