02/29/2024
Less than a year after lawmakers spent every dollar of a record $17.5 billion surplus and raised taxes by nearly $10 billion, the state now has a modest surplus with a deficit looming in the next budget https://www.mnbp.com/mbp-statement-on-state-economic-forecast/
Minnesota Management and Budget today released a state economic forecast showing a projected $3.7 billion surplus for the current budget cycle (FY 24-25) and a $1.5 billion projected budget deficit in 2026-2027. Context: Last year, DFL lawmakers passed a $72 billion state budget (increasing spending...