Teachers Union Wants $5 Billion from Minnesota’s Budget Surplus

The state’s teachers union, a top ally of and donor to Minnesota Democrats, who now control the whole of state government, said it wants a $5 billion chunk of the budget surplus.

Minnesota Management and Budget announced in an economic forecast this week that state lawmakers will have a projected $17.6 billion surplus to work with when crafting a budget for the 2024-2025 biennium next session. That’s up from an estimated $9.2 billion surplus projected in February.

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Minnesota Projects $17.6 Billion Surplus

Minnesota’s Management and Budget estimate a general fund budget surplus of $17.6 billion for the fiscal year 2024-25 biennium.

“Strong collections and lower-than-projected spending add to the FY22-23 surplus,” the agency said. “Economic headwinds lower expected growth but large leftover surplus and healthy net revenues in FY24-25 create estimated $17.6B available for budget.”

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Minnesota Governor Proposes Using Budget Surplus for Stimulus Checks for Taxpayers

Many Minnesota taxpayers would receive stimulus checks under a bill Assistant Majority Leader State Rep. Dan Wolgamott, DFL-St. Cloud, introduced Tuesday.

Single filers and married individuals who filed a separate return would receive $500, and married couples filing jointly or individual head of household filers would receive a one-time payment of $1,000. The stimulus checks could start arriving in mailboxes by late summer, a news release from Wolgamott’s office said. 

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Despite Budget Surpluses, Tax Increases Still Debated in Minnesota as May 20 Deadline Looms

by Bethany Blankey   Joint conference committees continue to hash out differences with the hope of reaching the May 20 deadline and closing a $2 billion gap between conflicting budget priorities. Still up for discussion in the Minnesota legislature are proposed fees on drug distributors and manufacturers to pay for…

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Walz Won’t Rule Out Gas-Tax Increase Despite $1.5 Billion Budget Surplus

Minnesota Management and Budget released its Budget and Economic Forecast report Thursday, estimating that the state will have a $1.5 billion surplus for the 2020-21 biennium. According to the report, an additional $491 million will be added to the state’s budget reserve, or “rainy-day” fund, which now totals $2.075 billion—a…

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