Today the Minnesota Management and Budget (MMB) office released the February budget forecast, showing an updated $6 billion deficit, which is nearly $1 billion more than was projected in the November forecast. The short-term surplus has also been reduced from $616 million to $456 million. These forecast numbers do not account for any new spending in the current legislative year. 

Senator Michael Kreun (R-Blaine) released the following statement in response: 

“When we heard of a $5.1 billion deficit in the November forecast, it was already proof that Democrat leadership squandered a historic $18 billion surplus and spent our state into debt in record time. Today’s news is even worse – we are now projected to have a $6 billion deficit in the next budget cycle. The forecast also shows that annual spending growth is outpacing revenue growth by 80%, causing an immediate and alarming structural deficit. This is an unacceptable mismanagement of the state’s budget. 

“Despite this bleak outlook, Democrats have shown no interest in making budgetary cuts where necessary. In fact, Governor Walz has proposed a budget that won’t fix the problem, but will lead to higher taxes and unaffordable living conditions in Minnesota. His budget is not a serious long-term solution.

“We need to rein in the over-spending immediately, and we have two months to get this important work done. Minnesotans expect this, and the state of our budget demands it.”

Democrats have grown Minnesota government from a $39 billion general fund budget in 2014 to $71 billion in 2024, and Minnesota is already ranked the 46th worst state when it comes to local tax burdens.