Budget Surplus Totals $17.5 Billion

Minnesota’s updated budget forecast remains largely unchanged from the previous report in November. The budget surplus totals $17.5 billion. “First and foremost, this is good news for Minnesotans,” said Governor Tim Walz. “This is a state where people know how to work hard. It’s a state that’s invested in infrastructure over many decades. It’s a state that understands our greatest natural resource is our people.” Senate Minority Leader Mark Johnson emphasized a new approach was taken with this budget forecast. “I think we should all be cognizant of the inflationary effect that’s built into that. If you add in that $1.4 billion, we’d have $19 billion surplus. That’s how it would have been reported had the Governor not signed the bill a week ago.”