ST. PAUL, Minn. — On Thursday, March 6, Minnesota Management and Budget released the most current state budget forecast, which projects a $456 million surplus for fiscal year 2026-27, or $160 million lower than the November 2024 forecast. MMB cites federal uncertainty as a significant factor in the lower projection.
Senator Erin Maye Quade (DFL-Apple Valley) releases the following statement:
“With an almost half billion-dollar projected surplus, today’s budget forecast is proof of the DFL’s responsible and successful budgeting. Let’s be clear: the progressive policies Minnesota passed in the last two years are shielding families, workers and businesses from President Trump and Elon Musk’s chaotic agenda.
However, this forecast is not cause for relief. We cannot ignore how corporate billionaires continue to consolidate wealth and power in our country, at the expense of the rest our health and prosperity. We can solve the instability Minnesota faces if we stop exempting the ultra-wealthy and mega-corporations from the taxes the rest of us pay. I will not stand by while Social Security and Medicaid funds are raided for every dollar so the richest men in the world can colonize Mars or send celebrities to space for 10 minutes.
While Congress guts Medicaid for thousands of Minnesotans, I will work to protect the gains we’ve made for Minnesotans from Trump’s chaos and corruption. While Republicans work to defund the Department of Education to cut taxes for themselves and their billionaire cronies, I strive to protect public education and make our economy benefit working Minnesotans. The system we have now is not inevitable — we can, and must, choose different.”
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Learn more about Sen. Maye Quade.
