Schmit-Surplus



Lines are being drawn at the state capital when it comes to what to do with the projected 1.2 billion dollar budget surplus announced last week.
                
While many Republicans want to see the surplus returned to Minnesota residents, Democratic State Senator Matt Schmit of Red Wing says that's not the best thing to do.

Schmit says some of the money should be kept  for a rainy day fund.

Schmit says some of the budget surplus will be used up when the legislature repeals several business taxes passed last year including a warehousing tax that is scheduled to take effect April First.
 

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Topics : Business_FinanceHospitality_RecreationPolitics
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Locations : Minnesota
People : Matt Schmit
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