The February budget forecast from Minnesota Management and Budget was presented today with a budget and economic forecast projecting a positive balance of $1.6 billion for the FY 2022-23 biennium. Minnesota’s budget outlook is significantly better for this biennium and the next due to an improved U.S. economic outlook that is bolstered by large federal actions that have emerged since November and were not incorporated in earlier projections.
In response, Senator Greg Clausen, DFL-Apple Valley, released the following statement:
“I caution people not to be too optimistic about this outlook as it’s not equally spread amongst all Minnesotans. The COVID-19 pandemic has seriously impacted our lives with clear evidence that some have been hit much harder than others. Our lower-wage workers, small businesses, and students need us to prioritize support for them by putting forth legislation to help balance the budget, rebuild our economy and build a better future for all.”