ST. PAUL, Minn. — Today, the Minnesota Office of Management and Budget (MMB) released their February Budget and Economic Forecast.
In response to MMB’s findings, Senator Nick Frentz (DFL-North Mankato), Vice Chair of the Senate Finance Committee, released the following statement:
“Minnesota’s economic outlook has improved since our last forecast, which is good news for our state as a whole. We have a higher projected surplus in the 2026-27 budget cycle, and a lower projected deficit in 2028-29. This latest outlook – combined with our healthy budget reserve – gives us more room to work with. As we look ahead into the future, I have complete confidence in our ability to balance the budget.
“Over the past few years, our state has passed budgets that lower costs for working families and strengthen our economy from the ground up. Minnesotans are better off since we passed universal school meals, our nation-leading child tax credit, local government aid for our cities and counties, consumer protection measures, infrastructure packages, worker benefits, and much more.
“At the same time, we have a federal government that has become increasingly hostile to our state. We’ve seen the Trump administration cut Americans’ social safety nets, withhold healthcare, food, and energy assistance funding, and terrorize our friends, families, and neighbors. None of this is making Minnesotans more healthy, safe, or secure. Despite this, my colleagues and I at the state level will continue our efforts on behalf of working class Minnesotans, making sure that their families can thrive.
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and Rules and Administration Committees.
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