In a recent article in the Star Tribune, lobbyist Tom Hanson of Winthrop & Weinstine comments on the newly resolved state budget plan. The intention is to borrow $640 million from the state’s 1998 tobacco settlement, and Hanson says this is a better option than tax increases, as far as Republicans are concerned. But, he points out that there is a downside – “it’s money that’s not going to be available in the next biennium…but the spending expectations will probably be there” (qtd. in Karnowski). He, along with everyone else, is hopeful that the economy will begin to advance significantly in order to prevent this debate from continuing to resurface during years to come.
To read more, visit the Star Tribune’s website.
Article Citation
Karnowski, Steve. “Tobacco bonds in Minnesota budget deal come at hefty price to future state budgets.” [Minneapolis] Star Tribune. 24 Jul. 2011.
July 24, 2011
Mentioned Attorney or Professional
