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 Bill Lieske (Lonsdale) issued the following statement:
“A small surplus today can’t hide the massive waste, fraud, and abuse that have plagued our state government under Democrat control. In just two years, they spent the $19 billion surplus, raised $10 billion in new taxes, increased spending by 40%, and left us with a projected $5.1 billion deficit due entirely to Democrat mismanagement. It’s time to restore fiscal responsibility, end wasteful spending, and protect Minnesotans from more tax hikes.”
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