Ten better ways to respond to Minnesota’s budget surplus
Minnesota’s projected $1.086 billion budget surplus is a sign that the tax and budget solutions of the 2013 legislative session are paying off. By returning the state to its traditional high-road approach, Gov. Mark Dayton and the Legislature have proved that a people-centered budget is good for both the economy and the state’s finances.
While this undoubtedly is a positive sign, it is not the final word. The governor will not offer a supplemental budget until after the February 2014 forecast, and a lot can change between now and then. Recent February forecasts have adjusted November forecasts by anywhere from $500 million to $1 billion.
Still, let’s assume our surplus remains. Our first priority must be paying back the debts previous legislatures incurred: repaying $246 million to our schools and $15 million to the state’s airport fund. What to do with the remaining $825 million, however, deserves more reflection.
