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Lawmakers want faster payback of Minnesota school IOUs

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ST. PAUL (AP) — House Democratic and Republican leaders have come to early agreement on the state budget: Both want the final product to repay IOUs to Minnesota schools faster than Gov. Mark Dayton has proposed.

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They differ on where to find the money.

House Majority Leader Erin Murphy, a St. Paul, Democrat says her caucus will push to “aggressively” repay a $1.1 billion aid deferral to schools though she wouldn't commit to having the full debt erased in the upcoming two-year budget. House Minority Leader Kurt Daudt, a Republican from Crown, says it's a priority of his caucus too. He suggested diving into state budget reserves to do it because GOP lawmakers oppose legislation raising taxes.

In his new budget, Dayton proposed more than $300 million in new K-12 school spending but wouldn't undo the prior aid shift for another four years.

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