On Wednesday, Dec. 6, Minnesota Management and Budget (MMB) released its annual November revenue forecast, which provides information and outlook for the state’s financial picture. The latest forecast is projected to be $2.4 billion, up $808 million from the end-of-session estimate. Though there is currently a short-term surplus, MMB indicates a looming $2.3 billion deficit beginning in 2025.

Senator Cal Bahr (R-East Bethel) released the following statement:

“Last session, Democrats grew government by an unstainable 38% and raised taxes and fees by nearly $10 billion to fund their liberal agenda. Minnesotans deserve better than this bloated government bureaucracy, but unfortunately, we are now seeing the consequences of a one-party controlled legislature.

“The latest budget forecast is the result of a structural shortfall and over-optimistic analysis of the economy. With a $2.3 billion shortfall predicted in the next budget cycle, we must look for efficiencies that will protect Minnesota taxpayers.”

Click here to read the full MMB November Budget and Economic Forecast.