(AP Photo)

Gov. Terry Branstad got all whipped up at a GOP fundraiser Saturday night and promised to veto any budget bills sent to him that don’t set spending for two fiscal years. He wants a biennial budget, and he’d better get it.

He’s insisting on a two year budget and a five-year plan. From Jennifer Jacobs at The Register:

Then, the volume of his voice rising, Branstad said to applause: “If they send me a one-year budget, I’ll veto it, and I’ll veto it, and I’ll veto it until we get a two year budget and get the state on the right financial track.”

I understand where Branstad’s coming from, but there’s really nothing about a two-year budget that guarantees fiscal responsibility. It’s still politicians, not robots, who are crafting the plan. It’s also very tough (impossible really) for budget experts to predict what tax revenues will look like a months from now, let alone years. The two-year budget you pass today may look pretty bad by the following January, so lawmakers will have to go in and rewrite it anyway.

If anything, it concentrates more power in the hands of the governor, who has broad transfer authority and can move money around in the budget while the Legislature sits on the sidelines. Even if Branstad says he won’t overuse transfer authority, the authority remains, and his promise won’t stop future executives. Handing the governor a two-year budget would also leave the Legislature in a much weaker bargaining position on other issues.

I’d be more supportive of the concept if it applied equally to revenue adjustments and spending. For example, if the Legislature passes a corporate tax cut or tax credits, they would sunset in two years. If the cuts/credits remain affordable and performed as promised, lawmakers can reauthorize them.

Democrats who run the Senate don’t think much of Branstad’s firm stand on biennialism. Sen. Bob Dvorsky, D-Coralville, issued a statement that leaves me less than optimistic of potential for compromise:

“Why is Governor Branstad willing to massively disrupt Iowa’s economy to force passage of a two-year starvation budget for local schools? The Governor and Legislative Republicans insist there be NO increase in basic state aid to local schools. This has NEVER happened since the school aid formula was created 40 years ago.

“The Governor made his comments at a fundraising event before some of the most extreme elements of the Republican Party, people who have openly stated their desire to replace Iowa’s public schools with homeschools…”

Pulling out the all caps. Yeah, I’m not sure this is going to be settled by end of the month.