abc
QUICK LINKS:

With Surplus, Minn. Lawmakers Ponder Reserves Bump

Created: 02/27/2014 11:22 AM KSTP.com

A tantalizing Minnesota budget surplus has stirred talk of tax cuts and more spending on prized programs or infrastructure upgrades.
    
But there's also a call for some quarters to save a chunk of the money to cope with the next downturn.
    
Lawmakers learn Friday how big of a surplus they have to work with when the Department of Minnesota Management and Budget issues its latest economic forecast.
    
In December, finance officials projected an $825 million surplus. The welcome breathing room comes after a string of deficits triggered budget cuts, tax increases and drawdowns in rainy day accounts.
    
When fully stocked - as they are now - Minnesota's savings and checking account balances combine to reach $1 billion. The maximum reserve amount hasn't risen in more than a decade.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Photo: KSTP/File

Dense Fog Advisory

MN AREAS AFFECTED: Chisago; Dakota; Freeborn; Goodhue; Rice; Steele; Waseca; Washington
Expires: 10/24/2014 10:00 AM

Dense Fog Advisory

WI AREAS AFFECTED: Barron; Chippewa; Dunn; Eau Claire; Pepin; Pierce; Polk; Rusk; St. Croix
Expires: 10/24/2014 10:00 AM

Minneapolis/St. Paul

Broken Clouds
48°
62° | 48°
  • Feels like: 45° F
  • Wind: ESE 7mph
  • Humidity: 93%
  • Fri A few clouds
    70° | 50°
  • Sat Abundant sunshine
    66° | 48°
  • Sun Partly cloudy
    71° | 50°
  • Mon A few clouds
    58° | 44°

Video

KSTP NEWS