Minnesota Governor Unveils Budget Geared to Purge Deficit

Shields, Yvette
January 2005
Bond Buyer;1/26/2005, Vol. 351 Issue 32057, p1
Trade Publication
This article reports that Minnesota Governor Tim Pawlenty unveiled a $49 billion biennial budget for fiscal 2006-07 that eliminates a $700 million deficit through cuts and new revenue from expanded gaming and the extension of expiring taxes on vehicle rentals and liquor. The spending plan relies on a $2 billion increase in tax revenues and maintains a reserve of $653 million or 2.2% of proposed spending, and eliminates a structural imbalance of $226 million in the current fiscal year. The budget projects a positive structural ending balance of $224 million in fiscal 2008.


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