Minnesota Gov. Tim Walz recently unveiled a budget proposal for Minnesota’s infrastructure, revealing that it will include $3.3 billion in financing that will go towards the state’s infrastructure. The funds would be allocated towards different projects, including senior and affordable housing, renovation of university and state buildings, capital projects for organizations that are led by and for people of color, and repair of bridges, roads, and water systems.
The legislature still has to approve this two-year budget proposal of Gov. Walz. As Minnesota Reformer has reported:
Walz’s infrastructure plan includes $1.9 billion in bonds to pay for various projects. This would require three-fifths of each Legislative chamber’s vote, meaning Democratic leaders will need to get some Republicans on board. Nearly $900 million of the projects in Walz’s infrastructure package would be paid for in cash, which requires a simple majority — something a DFL majority would likely be able to deliver.
“Minnesotans understand that when you invest in your people and you invest in your infrastructure, you create opportunities for economic growth and a high quality of life,” Walz said.
The administration said 38% of the spending would go to maintaining or improving existing infrastructure.
Walz said $3.3 billion is a big number, but said local communities, government agencies and colleges and universities made requests for twice that.
Lawmakers said they are also committed to approving more money for Minnesota infrastructure, but House Speaker Melissa Hortman told the Coalition of Greater Minnesota Cities on Wednesday that if Democrats and Republicans can’t come to an agreement by the end of the legislative session, they will fund the projects with cash that has piled up after years of surpluses.