February forecast provides cautionary optimism

 Minnesota Management and Budget released the state’s February forecast this week. The forecast projected a positive balance of $329 million for the current biennium. The change is a positive swing of $518 million from the November forecast. The fluctuation is due to an increase of $353 million in revenue and $167 million less in government spending than what was previously projected.

Governor Dayton and legislators will use the data published in the February forecast to develop their respective budgets. It is expected Governor Dayton will release his budget on March 15, at which point the legislature will examine his proposals and develop its own priorities. Once the legislative proposals go through the formal hearing process negotiations on supplemental bills will start in earnest.

Constituents who are interested in legislation or the budget in general can contact their legislators for updates or follow proposals on the legislature’s website: https://www.leg.state.mn.us/. Additionally, if you would like to see what Governor Dayton’s proposal includes on March 15, check Minnesota Management and Budget’s website for details: https://mn.gov/mmb/budget/.