New State Budget Forecast Due Out This Week

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(Learfield News Service/St. Paul, MN)  As most Minnesotans keep an eye on the weather forecast, lawmakers are waiting for the latest state *budget* forecast that comes out later this week (Thurs).

Among other important information, it tells legislators whether they’ll have a continued surplus in the 2020 session or will have to deal with a deficit. Governor Tim Walz predicts another “plus” number. “I think we’re gonna have revenues match where we thought they were,” he says. “I’m proud that Minnesota’s financial situation is good — or very good as the rating agencies say.”

Walz says the state probably needs to put a little more into the “rainy day” budget reserve. “I think this forecast will allow us to do that. And then we go into a bonding bill in secure position, be able to service those bonds and keep Minnesota’s finances healthy, our investments healthy, and our economy growing,” he says.

If there’s another surplus, Democrats would likely use that as an argument that a bonding bill for state public works projects should be larger than usual — something Republicans have been resisting.

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