abc
QUICK LINKS:

Minn. Finance Officials Estimate $1.2 Billion Budget Surplus

Updated: 02/28/2014 9:56 AM
Created: 02/28/2014 9:55 AM WDIO.com

ST. PAUL, Minn. (AP) - A new economic forecast showing a $1.2 billion surplus will give Minnesota lawmakers more leeway to pursue tax cuts and spending this session.

State finance officials released the updated outlook on Friday. The surplus is bigger than one projected a few months ago.

The forecast represents an estimate of future tax collections compared with spending commitments through June 2015. It's the last forecast that provided before November's election and will guide session decisions.

More details about the state economic conditions were to be discussed at a news conference later.

Gov. Mark Dayton and House leaders say they want fast action on a tax-cut plan of $500 million or more. Senate leaders are taking a go-slower approach and favor putting at least some of the surplus into a rainy-day account.

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 This material may not be published, broadcast, rewritten or redistributed.)

Front Page

  • Supporters Hold Rally for UMD Coaches

    Supporters for Shannon Miller and the rest of the UMD women's hockey staff rallied on campus Wednesday morning. This comes in reaction to Monday's announcement of UMD deciding not to extend the coaches' contracts. 

  • Final IRRRB Meeting for Tony Sertich

    IRRRB Commissioner Tony Sertich says farewell at his final meeting, which was quite a busy one.

  • Thieves Steal 2 Red Kettles in Hayward

    Thieves have stolen two Salvation Army red kettles in Hayward in recent weeks, leaving the Sawyer County chapter with only three collection stands remaining to collect donations in the final week before Christmas.  One kettle was believed to contain $300 to $400.

  • Sawyer Co. Homicide Charge Dropped

    Prosecutors have dropped a homicide charge against a man in the death of his wife at a Sawyer County cabin after further investigation yielded more evidence.  The charge against Cade G. Clark, 26, was dropped during a hearing on Wednesday.

  • MN Power Executive Addresses Rail Service Concerns in DC

    Minnesota Power's Executive Vice President shared his concerns about rail service before a federal panel in Washington, D.C. Thursday.

 
Advertisement