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Budge forecast provides session roadmap

Budge forecast provides session roadmap Click to Enlarge Photo:

Feb 27, 2013 at 4:55 pm

ST. PAUL, Minn. (AP) Minnesota's budget debate kicks into a higher gear on Thursday when state finance officials set the parameters for a process that must conclude by mid-May.

A comprehensive look at state tax and spending patterns will identify the expected shortfall that must be patched when lawmakers set the next two-year budget. Virtually no one at the Capitol expects the forecast to project a long-term surplus.

Gov. Mark Dayton assembled his two-year budget based on a prior forecast reflecting a $1.1 billion deficit.

If the deficit shrinks, Dayton could rejigger the controversial tax-hike proposal that is central to his budget fix. If the shortage grows, it will increase pressure on lawmakers to cut spending or raise taxes even higher.

Mike Tanner

Posted By Mike Tanner

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