ST. PAUL, Minn. — Today, the Minnesota Management and Budget forecasted a $616 million balance at the end of the fiscal year 2026-2027 biennium, $1.1 billion less than prior estimates. In response to the budget and economic forecast Assistant Majority Leader Frentz (DFL-North Mankato) released the following statement:
“With today’s forecast showing a small surplus in the next biennium, but a possible deficit in the 2028-2029 budget, legislators will start to have to make hard choices. Minnesotans sometimes must make hard choices in their family budgets, and legislators must produce a budget that will allow stable, long-term success for our state – working men and women, cities and counties, families and businesses alike.
“We have positives to build on in our economy. The state has maintained its excellent AAA credit rating, which reduces our borrowing costs when we pass bonding bills. I am also glad our unemployment rate has stayed at historic lows, and our workforce participation rate is among the best in the entire country. We can build from here.
“As far as the upcoming legislative session, some things should be easy to agree on – like infrastructure. I’m calling on legislators to commit to passing a standalone bonding bill to meet our state’s critical infrastructure needs. This should be a top priority of both parties and both chambers. Passing a bonding bill will require bipartisanship – and Minnesotans are asking for a sign the two parties can work together to get things done next session. If we can come together to do that, it will be a great sign. If we can’t – well, that will be a sign too.
“Our investments of the last two years are making Minnesota a better place to live, start a family, and grow a business. As we look to the next two years, we need to understand rising costs to achieve a balanced and responsible budget without leaving Minnesotans behind. That would be a signal that Minnesotans would recognize and appreciate. My district wants our state government to deliver on the basics – and I pledge to work towards that goal.”
and Rules and Administration Committees.
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