Minnesota's budget surplus should benefit workers and their families
Minnesota’s state budget surplus is expected to be $1.33 billion for the upcoming FY 2020-21 biennium. This amount is the remaining balance after an automatic allocation of $284 million to the budget reserve, which is projected to be $2.35 billion.
Gov. Tim Walz and state lawmakers will use the Minnesota Management and Budget’s (MMB) budget and economic forecast to make spending and tax decisions during the legislative session which begins Feb. 11.
While noting that Minnesota’s budget and economic outlook has improved since the end of the 2019 legislative special session, MMB officials say a slowdown remains in the forecast.
In response to today’s budget forecast, MAPE President Chet Jorgenson released the following statement:
“Today’s budget forecast will help Gov. Tim Walz continue his work to improve the lives of Minnesota workers and their families. He worked with Speaker Melissa Hortman and Senate leaders Paul Gazelka and Tom Bakk to preserve the provider’s tax which helped 1.2 million low-income Minnesotans access healthcare. It was a responsible fiscal decision without which this forecast would look much different.
“We look forward to working with the governor to help pass our contract and a robust bonding bill to address our overdue infrastructure concerns.”