Dayton Proposes 2016 Budget With $900 Million Surplus
ST. PAUL, Minn. (WCCO) -- Governor Mark Dayton on Tuesday unveiled his wish list for the 2016 Minnesota Legislature.
The Governor released new ways to use the state's $900 million budget surplus. The budget surplus itself is a $900 million windfall, that's a surprise. And there are signals the economy is slowing down, that's a surprise.
Gov. Dayton is proposing to spend $100 million to expand Internet broadband service into rural Minnesota. He's suggesting another $100 million to tackle persistent racial economic disparities.
Dayton is also proposing expanded childcare and education tax credits. And he wants to leave $200 million in the bank, untouched, in case the economy falters as it did when he took office.
"I went through the nightmare of coming in here with a $6 billion projected deficit and having to go through all that. I don't want to repeat that, and I don't want my successor or the people of Minnesota to repeat that," Dayton said.
Republicans are calling for more tax cuts for more people. And they are pushing for some of the surplus to go towards transportation funding.
And that talk about an economic slowdown? The talk is serious -- but it's uncertain how serious the slowdown could be. If it happens, it means Minnesota revenues slow down with it.