Gov. Mark Dayton is proposing to use half of Minnesota’s projected $1.2 billion surplus to cut taxes, with another big chunk going to fill reserve accounts. Dayton outlined his supplemental budget plan Thursday, the day the House was planning to vote on a slightly smaller tax bill.
A tantalizing Minnesota budget surplus has stirred talk of tax cuts or funding bumps for prized programs and infrastructure upgrades, but a less-flashy option also has gained some currency: saving some to prepare for the next economic downturn.
As they open their legislative sessions, politicians in many states are facing a pleasant election-year challenge: What to do with all the extra money? A slow but steady economic recovery is generating more tax revenue than many states had anticipated.
Minnesota’s government has scooped up $140 million more in taxes for January than finance officials had been counting on.
Hunters who entered Minnesota’s wolf license lottery but lost get another chance starting Monday.
Gov. Mark Dayton told leaders of Minnesota’s counties Monday that he’s sympathetic to their financial difficulties, but promised no immediate relief.
Operating profit from Minnesota health insurance programs for low-income residents increased by about one-third in 2010.