Surplus estimate will shape session appetites

Surplus estimate will shape session appetites Click to Enlarge Photo:

Feb 28, 2014 at 4:34 am

ST. PAUL, Minn. (AP) — Minnesota lawmakers are about to find out how many requests for new spending or tax breaks they'll be able to accommodate.

State finance officials were publishing a new economic forecast Friday.

The last comprehensive economic report was released in December. It showed the state had a projected $825 million surplus.

There typically aren't major changes between the late-fall and late-winter forecasts, and no one is predicting a return to red ink.

Revenue collections have run far ahead of expectations. The report will show how spending is tracking with earlier estimates.

Gov. 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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