CHICAGO - Minnesota Gov. Tim Pawlenty Tuesday trimmed $200 million from the state's $925 million capital bill using his line-item veto powers, warning that the level of new general obligation borrowing sent to him by the Legislature exceeded the state's long-observed debt cap.
The line-item vetoes lowered the total size of the bill to $717 million from $925 million. "It is irresponsible to exceed the credit card limit that has been maintained by governors and legislators from both parties for past 30 years. Doing so could jeopardize our state's strong credit rating and low interest rates," the governor said in a letter to lawmakers.