MNMMB: $17.5B surplus forecasted for next biennium
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Published: Feb. 27, 2023 at 11:16 AM CST
ST. PAUL, Minn. (KEYC) - A new budget forecast for Minnesota’s legislature shows a stable balance.
The latest predictions show $17.5 billion over the next biennium.
December’s forecast was slightly higher at $17.6 billion, a historic surplus for the state.
Forecasters factored inflation into the latest report, showing its effect on state revenues, which still remain higher than spending.
The DFL-led government is working to spend the surplus through government programs while Minnesota’s GOP looks for tax relief for Minnesotans.
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