The Minnesota Office of Management and Budget announced
yesterday that the states revenue forecast indicates that there will be a budget surplus of $1.544 billion
heading into the new legislative session.
“A revenue forecast increase and lower base expenditure estimates add to an improved outlook for the current biennium leaving an estimated $1.544 billion balance available for the 2020-21 biennial budget. Statutory allocations, partially resulting from the improvement to the current biennium, add $491 million to the budget reserve which now totals $2.075 billion.”
In response, Gov.-Elect Tim Walz stated, “Today’s budget forecast is a testament to the incredible work of Governor Mark Dayton… Our budget will reflect the priorities of the people of Minnesota. Under my leadership, Minnesota will be the education state. We will work tirelessly to ensure every child, no matter their race or zip code, receives a high-quality education. We will increase access to affordable health care. We will help provide local communities with the tools they need to ensure they aren’t just surviving, they are thriving.”
Labor responded to the news with a clear vision of investments for working people and their families
"The next state budget is an opportunity for our elected officials to demonstrate their commitment to the future of our state through investments in public education and the people who deliver it,” Educations Minnesota President Denise Specht said. “This surplus is a historic opportunity to invest in the idea that our state can prepare every student for a successful life, no matter their race or where they were born. The educators of Minnesota stand ready to work with Gov.-elect Tim Walz to make it happen.”
“This forecast gives Governor-elect Walz and lawmakers solid ground to deliver for working Minnesotans and their families by increasing state investments in E-12 public school classrooms, higher education, protection from wage theft, workforce development, healthcare, transportation, and critical state and local infrastructure projects,” Minnesota AFL-CIO President Bill McCarthy said. “Minnesota’s union members will be closely watching the 2019 legislative session and will advocate at the Capitol and in our communities for investments and policies that support all working people.”