Kent, Cohen, Rest, Dziedzic respond to February Forecast

SAINT PAUL, Minn. — Minnesota Management and Budget today announced the state’s expected budgetary balance increased $181 million since the November forecast, leaving Minnesota with a projected positive budget balance of $1.513 billion for the FY 2020-21 biennium. Senate DFLers released the following statements:

“Today’s forecast is good news, but it’s more of a one-time bonus than a sign of a prolonged economic bump, with challenges for Minnesota’s budget in the future,” said Senate DFL Leader Susan Kent, DFL-Woodbury. “We should strike a balance between making smart investments in Minnesota’s needs without threatening our state’s long-term economic health.”

“As always, it’s important to differentiate what is on-going money and what money is one time,” said Sen. Dick Cohen, DFL-Saint Paul, who serves as the DFL lead for the Senate Finance Committee. “Certainly, the lack of an inflation index, an uncertain economic future as voiced by fiscal experts, and the need to provide consistent and adequate services to Minnesotans during times of deficits need to remain in the front of our minds.”

“Even without this updated forecast, Senate Republicans have made it clear their priority is an irresponsible tax bill that would cost the state more than one billion dollars in just one year,” said Sen. Ann H. Rest, DFL-New Hope, the DFL lead on the Senate Taxes Committee. “With a $1.513 billion budget balance but so much uncertainty in the near future, we should focus on strengthening our budget reserve while using some one-time spending for needs like school safety and affordable housing.”

“By using some of this one-time money, we can make real investments in our schools, our infrastructure, and in economic development that will create good-paying jobs without threatening our budget stability,” said Sen. Dziedzic, DFL-Minneapolis, “Senate DFLers think it’s important to make smart investments in things that will build a better Minnesota for all of us.”

Senator Susan Kent
Susan Kent represents District 53 in the eastern Twin Cities metropolitan area.

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Senator Cohen
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Senator Ann Rest
Ann Rest represents District 45, which includes portions of the western suburbs of Hennepin County in the Twin Cities metro area.

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Senator Kari Dziedzic
Kari Dziedzic represents District 60, which includes Seward, Cedar Riverside, Southeast and Northeast Minneapolis.

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