MN projects $1.1 billion budget deficit - WXOW News 19 La Crosse, WI – News, Weather and Sports |

MN projects $1.1 billion budget deficit

ST. PAUL, Minn. (AP) -- Minnesota faces a budget shortfall of $1.1 billion for the next two years as Democrats prepare to take over the Legislature next month.

State finance officials released an updated forecast on Wednesday, as Democratic Gov. Mark Dayton shapes a two-year budget proposal. Despite the overall deficit forecast, they said the state would be able to repay $1.3 billion in delayed school aid.

Full details of the forecast were to be given in a briefing later Wednesday.

State officials have said the forecast could be quickly obsolete if federal debt talks don't head off the so-called fiscal cliff.

Minnesota comes under full Democratic control next year for the first time since 1991, giving Democrats latitude to raise taxes after years of Republican resistance.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WXOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy, Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Theresa Wopat at 507-895-9969. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.