The office of Minnesota Management and Budget (MMB) today released its annual November economic forecast. The report, which details the state’s budget picture, projects a surplus of $616 million for the 2026-2027 budget cycle. But the most concerning aspect of the report is the massive budget deficit on the horizon – $5.1 billion for Fiscal Year 2028-2029.
Senator Steve Drazkowski (Mazeppa) issued the following statement:
“The Democrats didn’t just squander a $19 billion surplus, they allowed pervasive waste, fraud, and abuse while piling on $10 billion in new taxes on the hardworking people of this state. Minnesotans are now paying the price for their recklessness – we’re looking at a $5.1 billion deficit coming down the pike. It is a total failure by the Democrats to budget responsibly. It’s time to put an end to irresponsible spending and total mismanagement of government.”
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