SAINT PAUL, Minn. – Earlier today, Minnesota Management and Budget announced a projected positive budget balance of $641 million for the 2020-21 biennium, providing the latest economic outlook for the state. The updated forecast also projects a $1.237 billion shortfall for 2022-23. In response, Senator Jim Carlson (DFL-Eagan) released the following statement:
“Today’s forecast is a marked contrast from the dire situation we faced in May and is good news for our state. We have a much stronger short-term economic outlook for Minnesota, and much of this is thanks to the difficult but prudent decisions made by Governor Walz. These efforts have bolstered consumer confidence and put us on the path to recovery. Minnesotans are doing their part by supporting main street businesses and getting takeout from their favorite restaurants. Minnesotans have stepped up during these difficult circumstances, and state aid and federal relief has been vital in helping those workers and small businesses affected by this pandemic. However, hundreds of thousands of Minnesotans continue to face challenging circumstances, especially low-wage workers in service and hospitality industries. With this forecast, it is now clear that we can and must provide further economic aid to those who are still being harmed by this virus.”
Learn more about Sen. Carlson.
Read more news from Sen. Carlson.
