The state’s budget outlook is stable, with a $1.4 billion surplus. That’s according to the latest forecast out today from the Minnesota Management and Budget office. The current biennium is projected to end with a balance of $678 million, after $334 million is allocated to the budget reserve. Lawmakers will use today’s budget numbers as a starting point for the upcoming January session as they address tax cuts and healthcare and transportation funding over the next two years. It remains to be seen how much common ground there will be between the Republican-led legislature and Democrat Governor Mark Dayton. Another, final updated forecast comes out in February.
For more information on the state’s budget and economic forecasts, visit the Minnesota Management and Budget website at mn.gov/mmb