Bakk responds to modest surplus, growth projections
St. Paul, Minn.—Senate DFL Caucus Leader Tom Bakk (DFL-Cook) has released the following statement responding to Minnesota Management and Budget’s economic forecast. The forecast projects a $329 million surplus for FY 2018-19 and a modest positive balance for the upcoming biennium.
Bakk encourages Republican legislative leaders to be “careful, careful, very careful” in their budget considerations, following the modest surplus announcement. “Whatever ongoing spending is committed this session will double in the next budget,” Bakk said. “Let’s focus on the basics this session, passing the state employee contracts, shoring up state pension obligations, supporting our students and keeping them safe, and passing a comprehensive infrastructure bill.”
“The caustic rhetoric related to the forecasts being “cooked” is downright silly. It disrespects the non-partisan economists and professionals who work diligently to develop these critical forecasts and disregards the careful consideration and justifications of each economic indicator used to create this forecast,” Bakk said.