Minnesota Budget Archives - The Minnesota Sun

Minnesota to Face Projected $4.7 Billion Shortfall for Fiscal Years 2022-23

August 2, 2020August 1, 2020 Minnesota Sun Staff

Minnesota is facing a grim next few fiscal years.

Minnesota Management and Budget (MMB) Commissioner Myron Frans on Friday warned legislative leaders of a $4.7 billion projected revenue shortfall for fiscal years 2022-23 after restrictions put in place to slow the spread of COVID-19 caused tax revenues to plummet and costs to increase.

Gov. Walz Created Budget Deficit, Will Use Tax Increases to Fix It, Lawmaker Says

May 7, 2020May 6, 2020 Anthony Gockowski

The economic shutdown has turned Minnesota’s projected $1.5 billion budget surplus into a $2.4 billion deficit, state officials announced Tuesday.

Minnesota’s Projected Budget Surplus Increases $181 Million in New Forecast

February 28, 2020February 27, 2020 Anthony Gockowski

Minnesota Management and Budget’s annual February economic forecast projected a budget surplus of $1.513 billion for the 2020-21 budget cycle.

Senate Republicans Unveil Plan to Return Budget Surplus to Minnesota Taxpayers

February 21, 2020February 20, 2020 Anthony Gockowski

Minnesota Senate Republicans unveiled their “Get Your Billion Back” plan Thursday, a package of tax cuts worth more than $1 billion.

Divided Minnesota Legislature Reaches Agreement on Major Budget Areas

May 25, 2019May 24, 2019 Minnesota Sun Staff

by Bethany Blankley The nation’s only divided legislature has reached agreements on all of its remaining budget disputes, Gov. Tim Waltz and leaders of the Senate Republican and House Democratic majorities said Thursday. They reached a compromise on the biggest part of the budget during Thursday’s special session –…