Minnesota lawmakers find out this morning (9:15am, details at 11:15am) whether the state has another budget surplus or is back in deficit territory. Governor Tim Walz said earlier he thinks this latest economic forecast will show the state with a budget surplus. “Watching… nationally too, I saw that they ticked-up growth I believe to 2.1 percent for the last quarter. Every indication is… that Minnesota’s performing as it should,” Walz says.
The governor says a surplus would let the state put a little more into the “rainy day” budget reserve. Walz argues that would allow Minnesota to “go into a bonding bill in a secure position.” Democrats are pushing for a larger-than-usual amount of borrowing for state public works projects, citing favorable interest rates. Senate Republicans have resisted that, urging more fiscal caution.