Minnesota Gov.'s Budget Plan Eliminates $700M Deficit

January 2005
Bond Buyer;1/26/2005, Vol. 351 Issue 32057, p36
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 budget does not rely on any new tax increases in keeping with a pledge the Republican governor has reiterated since his gubernatorial election in 2002. The budget does extend expiring taxes though so that the state won't lose out on roughly $104 million in the next biennium, including $85 million from the liquor tax and $ 19 million from the rental tax.


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