Dayton Administration Says Surplus Can Support $1.5-billion Bonding Bill 01 Mar 18

(Learfield News Service/St. Paul, MN) Dayton administration officials say the state’s expected 329-million-dollar budget surplus is large enough to handle one-and-a-half billion dollars in fresh borrowing for state public works projects in the governor’s bonding proposal.

Management and Budget Commissioner Myron Frans says, “One-point-five is a good number, one-point-five billion dollars. Yes, this can support it.”  Frans says interest would be 10- to 15-million dollars in the current budget cycle.

Senate Republican Majority Leader Paul Gazelka says about a bonding bill of that size, “One-and-a-half billion is possible according to the governor, but I don’t think it’s wise.”

Republicans are talking about a bonding bill more in the range of 800 million dollars.