ST. PAUL, Minn. – Minnesota Management & Budget released the state’s February Economic Forecast earlier today. Senate Majority Leader Tom Bakk released the following statement:
“I am very pleased to see that Minnesota continues to make steady, incremental progress in resolving our financial challenges. At the same time, Minnesotans know we can do better.
We have an opportunity this year to deliver on both closing the remaining $627 million budget shortfall and making important new investments based on the priorities we all share. A prosperous future depends on putting the past decade of constant deficits behind us, but we also need to raise new revenue if we want to invest in the things that will improve the quality of life for Minnesota families—education, infrastructure, and property tax relief. Minnesota is moving in the right direction, and our focus is getting the state on track for sustained economic stability and long-term prosperity.
The Senate will review the Governor’s proposals in the context of these new budget projections and offer our own budget targets prior to the Legislature’s Easter/Passover break. We look forward to hearing from the citizens of Minnesota as we build a budget around our shared goals.”