(Senator Rasmusson’s Office)
St, Paul, MN – Minnesota Management and Budget (MMB) released the state’s February budget forecast Friday.
Minnesota is projected to have a $3.7 billion surplus for the 2026–2027 budget cycle, $1.3 billion higher than November estimates. But looking ahead, spending is expected to grow faster than revenue. By 2028–2029, the state’s general fund balance is projected to shrink to $377 million. MMB cautions that a “significant structural imbalance” remains, meaning the state is on track to spend more than it brings in over time.
Senator Jordan Rasmusson (R-Fergus Falls), Republican lead of the Senate Human Services Committee, released the following statement:
“Governor Walz and Democrats continue to drain the state’s finances, and hardworking Minnesotans are paying the price. While the national economy grows, Minnesota is falling behind. We are spending more than we take in, and temporary surpluses will not fix our state’s long-term financial problems.
“Our state also faces a serious fraud crisis, with billions of taxpayer dollars meant for our most vulnerable being stolen by fraudsters. The Walz administration has failed to act. Minnesotans deserve transparency, urgency, and action.
“Senate Republicans have an action plan to stop fraud, cut burdensome mandates, and deliver real tax relief for families. It’s time for leadership that puts Minnesotans first.”
Click here to read the full MMB February Budget and Economic Forecast.
Story courtesy of Senator Rasmusson’s Office.
FOLLOW US FOR INSTANT UPDATES!
