On Friday, February 26th, the Minnesota Management and Budget agency released their February budget forecast. They projected a positive budget balance of $1.6 billion, thanks largely to federal support towards COVID-19 relief, and lower than expected state spending.
In response to this Senator Chuck Wiger (DFL-Maplewood), ranking DFL-lead on the Senate Education Finance and Policy Committee, released the following statement:
“While the recovery of our state economy continues, we must remember that the best way to strengthen the recovery for every Minnesotan is by investing in our shared values, like education, infrastructure, and in our people. Today’s forecast is good news for our state’s economic health, but we must work together to craft a budget that makes sure no one gets left behind in this recovery. While we are grateful for the support of the federal government to improve our economic situation in Minnesota, it is up to us as state policymakers to pass a budget that reflects our values and invests in the needs of Minnesotans.”
While the projection shows that Minnesota’s state economy is rebounding, these effects have not been felt equally as many Minnesotans remain unemployed or underemployed. Full budget and economic materials can be found at https://mn.gov/mmb/ for more information.