The Minnesota Management and Budget agency released the updated February budget forecast Friday, which projected a positive budget balance of $1.6 billion for Minnesota. The budget outlook is significantly better for this biennium and the next due to an improved U.S. economic outlook bolstered by large federal actions that have emerged since November and were not incorporated in earlier projections.
In response, Senator Karla Bigham (DFL-Cottage Grove) released the following statement:
“None of us could have foreseen just how much disruption COVID-19 would cause for Minnesotans, but today’s forecast is just the latest news showing we are turning the corner and in the midst of a strong recovery. While our economic situation has improved, this recovery is not being felt by every Minnesotan, and too many working families are being left behind. With this forecast in hand, we must pass a budget that helps the Minnesotans who need it most, that invests in the areas that will help small businesses, working families, and those who have been most affected by this virus.”