Домой United States USA — Financial Mark Dayton signs public works borrowing bill despite reservations

Mark Dayton signs public works borrowing bill despite reservations

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Gov. Mark Dayton on Wednesday signed a bill funding more than $1 billion in public construction projects, even though he considered it “woefully inadequate” for college campuses, aging…
Gov. Mark Dayton on Wednesday signed a bill funding more than $1 billion in public construction projects, even though he considered it “woefully inadequate” for college campuses, aging state buildings and mass transit.
“I am signing this bill, despite my objections, because areas throughout Minnesota need the projects and the jobs which it will provide,” Dayton wrote in a letter to legislative leaders.
“However, the GOP majorities set an arbitrary, ill-founded and woefully inadequate limit to the total size of the bill.”
The DFL governor said it “underfunds critical investments” in higher education, state parks and water infrastructure, ensuring those needs will become more urgent and expensive in the future.
But Senate Majority Leader Paul Gazelka, R-Nisswa, said the bill is “big enough to make a significant difference in Minnesotans’ lives, but not so big to put future budgets at risk.”
The public works measure — called the “bonding bill” because most of the money, $825 million, will come from the sale of general obligation bonds to be repaid will general tax revenue — will fund projects ranging from college classrooms and park improvements to highways and sewer systems around the state.
Dayton had called for borrowing $1.5 billion with general obligation bonds.
After he vetoed the big tax and spending bills passed by the Republican-controlled Legislature last week, the construction bill is arguably the most significant accomplishment of the 2018 legislative session.
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Roads and bridges are the big winners under the bill. It provides $544 million for transportation projects, mostly funded with trunk highway bonds repaid with gas taxes, license tag fees and other revenue sources dedicated to transportation.
The bill also provides $180 million for state college and university buildings, $145 million for repairing and maintaining other state facilities, $133 million for water and sewer projects and $90 million for housing.

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