Today, Minnesota Management and Budget (MMB) released the February budget forecast, estimating an increase in $1.507 billion for the current biennium yielding a $9.253 billion positive budgetary balance.
In response, Senator Kari Dziedzic (DFL-Minneapolis) released the following statement:
“The forecast contains good news — Minnesota’s economy is continuing to grow and many Minnesotans are recovering from the pandemic recession. This is a silver lining in what has been an incredibly difficult couple of years.
However, not everyone is recovering as quickly as others. We have a historic opportunity to help those who have been hit hardest by the pandemic. We should use the money to address critical inequities and close disparity gaps, ensure all Minnesotans have a roof over their head and food on their table, and lift up all Minnesotans— from Ada, to Minneapolis, to Zumbrota.
The legislature is entrusted to use taxpayer dollars wisely, and due to global political conflicts, we should proceed with caution. We don’t know how the Russian invasion of Ukraine will impact inflation, energy prices, agriculture commodity prices, or financial market volatility. The severity of what is happening in Ukraine right now cannot be overstated.”