Top Lawmakers Urge Caution Following Drop in State Surplus
ST. PAUL, Minn. (AP) - Minnesota's top lawmakers from both parties are urging caution following a $300 million drop in the state's projected budget surplus.
State budget officials on Friday released their latest look at how much money lawmakers will have to spend this year. The projected budget surplus has dropped to $900 million, down from a $1.2 billion estimate made in December.
Senate DFL Majority Leader Tom Bakk says legislators need to focus on one-time spending to ensure future Legislatures are not saddled with a budget deficit.
Republican leaders in both the House and Senate are still pressing for major tax relief as a way to stimulate the state's slow-growing economy.
The Legislature will reconvene March 8.