ST. PAUL, MN – The February budget forecast announced today shows a projected budget deficit of $627 million for the years 2014-15. This is an improvement of $463 million from the November budget forecast that showed a projected deficit of $1.1 billion.
State Senator Roger Reinert (DFL-Duluth) made the following statement regarding the new budget forecast numbers:
“While Minnesota’s deficit has been reduced by almost 40%, significant structural budget issues still remain. Our budget solutions the past 10 years have been built on shifts, borrowing and one-time solutions. Today’s forecast numbers are encouraging, but we must remember the need for a sustainable and honest solution. With these numbers in hand, the real budget work begins.”