ST. PAUL, Minn. – Governor Tim Walz will unveil his infrastructure funding proposal Tues. for the 2024 legislative session that begins in just under a month.
The governor could propose to pay for infrastructure projects either with traditional bonding, where the state borrows the money, or by using part of the budget surplus, or a combination of the two.
The surplus is forecast at 2.4 billion dollars, but any spent now might contribute to a budget deficit in 2026-27.
Democrats need Republicans’ help to pass a bonding or borrowing bill and it’s one of the few negotiating “levers” GOP lawmakers have with a DFL “trifecta,” controlling both chambers of the legislature and the governor’s office.
Some Democratic lawmakers have been tossing around figures of $1.5 billion for an infrastructure package using bonding plus part of the projected surplus.
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