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Minnesota Budget Surplus Grows to $1.2 Billion - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

Minnesota Budget Surplus Grows to $1.2 Billion

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Minnesota's budget surplus is getting bigger.  A new economic forecast released Friday morning shows the state has an extra $1.2 billion.

The latest report from the Minnesota Management and Budget Office is more than $400 million better than the November forecast.

The state of Minnesota issues an economic forecast twice a year.  It represents an estimate of future tax collections compared with spending commitments and will guide budget decisions this session.

Minnesota Governor Mark Dayton and House leaders say they want fast action on a tax-cut plan of $500 million or more.

Senate leaders are taking a go-slower approach and favor putting at least some of the surplus into a rainy-day account.

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