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 This material may not be published, broadcast, rewritten or redistributed.)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

Minneapolis/St. Paul

Clear
48°
60° | 40°
  • Feels like: 42° F
  • Wind: ESE 17mph
  • Humidity: 66%
  • Wed Showers possible in the afternoon
    63° | 48°
  • Thu Showers ending by midday
    62° | 48°
  • Fri A few clouds
    70° | 50°
  • Sat Abundant sunshine
    66° | 48°

Video

KSTP NEWS