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 remainder of 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 Carla Nelson (Rochester) issued the following statement:
“The surplus might grab the headlines, but the massive deficit on the horizon is what should trouble us all. Democrats have allowed waste, fraud, and abuse to run rampant. They spent a historic $19 billion surplus, raised taxes by $10 billion, increased government spending by 40%, and left Minnesotans facing a $5.1 billion deficit. This really is a complete failure to be responsible with taxpayers’ hard-earned dollars. Minnesotans simply cannot afford the path Democrats have taken us down. We must end the waste, fix the mismanagement, and focus on smart, sustainable budgeting.”
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