What to do with $2 billion?

Posted at 7:34 AM on November 30, 2006 by Mike Mulcahy (2 Comments)

Gov. Tim Pawlenty says he'll propose some kind of rebate. Actually, he has to propose one by law because the state is projected to have about $1 billion left unspent when the fiscal year ends on June 30. But that doesn't guarantee the rebate check will be coming your way. The Legislature doesn't have to approve the governor's proposal. Both the governor and DFL legislative leaders say some kind of property tax relief is needed.

Already the interest groups are lined up spend the money on things like early childhood education, aid to cities and college tuition breaks. Others say they state should cut taxes. And state finance officials said over and over again yesterday that the politicians should be careful not to get the state back into red ink, especially with the housing market showing a drastic slowdown.

What do you think should be done with the money? Spend it? Send it back? Save it?

Comments (2)

I think we should hand most of it out in big sacks to construction firms involved in road repair and stadiums. Whatever is left should be piled on the capital lawn for a huge bonfire.

Since that's pretty much what's going to happen to it anyway.

Posted by Albatross | November 30, 2006 8:02 AM

#1 before any money is rebated the law/rule that exempts budget forcasts from using inflation should be changed to use inflation in the forcasts.

#2 repeal the 1999 law that forces the gov. to introduce a rebate plan to the legislature.

#3 restore money to programs that were cut to balance the budget(s) for the last few years:

a. LGA
b. Colleges/Uninversities-lower tuition, NOT stad.
c. property tax/rent rebate programs
d. transportation-road maitenance/transit
e. human services/health care, etc.

#4 increase the state/local govt's "rainy day" funds

#5 if there is any money left after all of that-then a rebate to ALL househoulds in MN can be made. NO permanent tax cuts shall be made.

Posted by jcb | December 4, 2006 8:47 AM

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