Senator John Marty

House and Senate DFL Leadership Statement on the February Economic Forecast

Today, Minnesota Management and Budget released the February Economic Forecast, showing a projected positive balance of $1.6 billion for the upcoming biennium. While the forecast projects a positive balance, it includes inflation on the revenue side and excludes it on the spending side in several key areas. Inflation is estimated to be $1.042 billion. A significant portion of the positive balance is also one-time money.