Dayton Stresses Stability, Caution with $1.4 B Surplus
ST. PAUL (AP) - Gov. Mark Dayton is urging financial restraint even with a $1.4 billion budget surplus.
Minnesota budget officials announced a larger-than-expected surplus on Friday. Lawmakers will have that sum to spend when they return to pass a two-year budget on Jan. 3.
Dayton says the extra cash is another reminder that the state is on firm financial footing after several decades of deficits. He and Republican-controlled Legislature dealt with a $6 billion-plus budget shortfall when Dayton first took office in 2011.
Republicans have said any extra money should go to tax cuts and credits. But Dayton is urging caution amid federal uncertainty and signs the economy is slowing nationally.
Dayton didn't spell out any specific goals for spending the money Friday. He'll propose his own budget in late January.