Minnesota has surplus estimated at $1.3 billion

Good news for Minnesota. Minneapolis Star Tribune reports (and I’ve highlighted the portion that may interest broadband advocates)…

Minnesota lawmakers have an estimated state budget surplus of more than $1.3 billion to work with as they tee up new spending or tax cut proposals for the 2020 legislative session.

The expected surplus, while good news for Minnesotans, sparked an immediate debate at the Capitol over fiscal priorities, with Democrats and Republicans offering sharply contrasting responses to the new revenue figures announced Thursday.

Republicans, who control the state Senate, suggested potential tax cuts. Democratic House leaders urged caution and said more revenue is needed to cover $1.2 billion in estimated inflation in 2022 and 2023.

DFL Gov. Tim Walz was more hesitant to give specific ideas for the surplus, but said he was open to legislators’ suggestions. However, he emphasized the need for a “robust” bonding bill, where the state borrows to pay for improvements to transportation, wastewater systems, state and university buildings and other infrastructure. He also underscored the importance of maintaining a strong budget reserve to protect the state’s fiscal stability.

This entry was posted in MN, Policy by Ann Treacy. Bookmark the permalink.

About Ann Treacy

Librarian who follows rural broadband in MN and good uses of new technology (blandinonbroadband.org), hosts a radio show on MN music (mostlyminnesota.com), supports people experiencing homelessness in Minnesota (elimstrongtowershelters.org) and helps with social justice issues through Women’s March MN.

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