State Savings Policies Evolve Amid a Decade of Economic Growth.

The amount states have in reserve is at a high mark and savings practices have become more sophisticated. But lawmakers are at times still drawn to tap the large pots of money.

When Myron Frans came on the job as Minnesota’s revenue commissioner, the state’s finances were stretched thin. It was 2011, less than two years after the official end of the Great Recession and the state was facing a $6 billion budget deficit.

“Those were tough times,” recalled Frans, who now leads the Minnesota Management and Budget office.

Disagreements between Republican lawmakers and then-Gov. Mark Dayton, a Democrat elected the prior year, over how to contend with that shortfall would contribute to a state government shutdown that lasted about three weeks.

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Route Fifty

By Bill Lucia

JULY 5, 2019



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