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State’s November budget forecast highlights challenges ahead
December 20, 2024 • Carly Eckstrom
Minnesota Budget, Minnesota Budget Outlook
Policymakers, advocates, and the public recently got a first look at what opportunities and challenges Minnesota may be facing when… Continue reading State’s November budget forecast highlights challenges ahead
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State’s October economic update shows higher revenue collections, stronger near-term economic growth
October 21, 2024 • Haleigh Sinclair
Minnesota Budget, Minnesota Budget Outlook
The latest state economic update contains several pieces of good news. Recent state revenues are stronger than anticipated and Minnesota… Continue reading State’s October economic update shows higher revenue collections, stronger near-term economic growth
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July economic update shows little change in Minnesota revenues, national economic projections
July 18, 2024 • Haleigh Sinclair
Minnesota Budget, Minnesota Budget Outlook
Minnesota ended the fiscal year with revenues a bit above prior projections. The national economic picture remains consistent with previous forecasts, according to the July Revenue and Economic Update from Minnesota Management and Budget. Here are our top takeaways.
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Latest economic report shows Minnesota revenues coming in above forecast
April 16, 2024 • Haleigh Sinclair
Minnesota Budget, Minnesota Budget Outlook
Minnesota’s revenues are up, and the near-term national economic outlook is slightly improved compared to the February forecast, according to… Continue reading Latest economic report shows Minnesota revenues coming in above forecast
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Minnesota February Budget Forecast shows improvement
March 8, 2024 • Haleigh Sinclair
Minnesota Budget, Minnesota Budget Outlook
Minnesota’s state budget picture improved in the February Budget and Economic Forecast released last week by Minnesota Management and Budget. That… Continue reading Minnesota February Budget Forecast shows improvement
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Minnesota’s November Budget Forecast is a mixed bag
December 18, 2023 • Jessie Luévano
Minnesota Budget, Minnesota Budget Outlook
Earlier this month, Minnesota Management and Budget released the state’s November Budget and Economic Forecast. This forecast is one of… Continue reading Minnesota’s November Budget Forecast is a mixed bag
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Recent information points to stronger state budget picture
November 27, 2023 • Jessie Luévano
Minnesota Budget, Minnesota Budget Outlook
As Minnesota policy-watchers get ready for the next legislative session, recent budget reports suggest that Minnesota will likely project a… Continue reading Recent information points to stronger state budget picture
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July economic update shows state revenues on track, mixed national economic picture
July 18, 2023 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The State of Minnesota ended the most recent fiscal year on a positive revenue note. Looking ahead, the national economic… Continue reading July economic update shows state revenues on track, mixed national economic picture
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Latest economic report shows state revenues on track with projected large surpluses
April 12, 2023 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Both the state of Minnesota’s revenues and the national economic forecast are slightly improved compared to the February forecast, according… Continue reading Latest economic report shows state revenues on track with projected large surpluses
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State’s February budget forecast confirms opportunity to make transformational investments
February 27, 2023 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The State of Minnesota is projected to have budget surpluses over the next four years, according to the February 2023… Continue reading State’s February budget forecast confirms opportunity to make transformational investments
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January economic update affirms state has resources to invest in everyday Minnesotans
February 14, 2023 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state of Minnesota’s revenue picture continues to improve, and the national economic recovery is expected to be a little… Continue reading January economic update affirms state has resources to invest in everyday Minnesotans
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Another historic surplus yields opportunity for transformational investments
December 15, 2022 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The State of Minnesota is projected to have dramatically more resources than previously expected, according to the November 2022 Budget… Continue reading Another historic surplus yields opportunity for transformational investments
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What are the state budget implications of a potential national recession?
October 26, 2022 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
While the state of Minnesota’s revenues have continued to come in better than expected, more serious economic challenges are expected… Continue reading What are the state budget implications of a potential national recession?
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State revenues are strong, but national economy is weakening
July 14, 2022 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state of Minnesota’s revenue picture for FY 2022 remains solid, but the national economic recovery is expected to be… Continue reading State revenues are strong, but national economy is weakening
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Minnesota April Economic Update includes first estimates of impact of Russia invasion of Ukraine
April 15, 2022 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state of Minnesota’s revenue picture to date is still solid, but the national economic recovery is now expected to… Continue reading Minnesota April Economic Update includes first estimates of impact of Russia invasion of Ukraine
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New budget forecast continues to show resources available to build an equitable recovery
March 1, 2022 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The State of Minnesota is expected to see unprecedented levels of resources, including a strong boost in the short-term numbers,… Continue reading New budget forecast continues to show resources available to build an equitable recovery
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Newest state revenue update affirms substantial resources are available to build an equitable recovery
January 14, 2022 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state of Minnesota’s revenue picture continues to improve, but the national economic recovery is expected to be a little… Continue reading Newest state revenue update affirms substantial resources are available to build an equitable recovery
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Historic state budget forecast presents historic opportunity
December 8, 2021 • Nan Madden
Minnesota Budget, Minnesota Budget Outlook
The forecast projects a $7.7 billion general fund surplus for the current FY 2022-23 budget cycle, and a $6.0 billion structural balance for the upcoming FY 2024-25 budget cycle. These projections represent a historic opportunity to make transformational changes to build a more equitable recovery.
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Potential state surplus could trigger reserve and tax changes
November 29, 2021 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook, Minnesota Taxes
As leaves change, and the days get colder and shorter, we’re getting ready for our favorite forecast – the state’s… Continue reading Potential state surplus could trigger reserve and tax changes
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Latest data point to opportunity – and need – to build a stronger recovery
October 26, 2021 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Even as the state’s revenues came in higher, the national economic outlook has weakened due to the spread of the delta variant of COVID-19 and supply chain disruptions. Read our take-aways and how policymakers should respond.
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State’s July economic update shows strong revenue numbers
July 22, 2021 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
We’re getting “back to normal”, but that isn’t enough The state of Minnesota’s revenue and economic picture continues to improve,… Continue reading State’s July economic update shows strong revenue numbers
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What does improved April economic update mean for budget negotiations?
May 3, 2021 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state’s economic picture has improved compared to the February forecast, according to the recent April Revenue and Economic Update.… Continue reading What does improved April economic update mean for budget negotiations?
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Budget forecast shows welcome news but Minnesota needs resources for an equitable future
March 2, 2021 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state’s new budget projections give the latest on the continuing impact of the pandemic, and a preliminary sense of the… Continue reading Budget forecast shows welcome news but Minnesota needs resources for an equitable future
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January economic update shows some improvement
January 21, 2021 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state’s economic picture has improved compared to the November forecast, but COVID-19 and the economic fallout are still hurting many Minnesotans’ health and economic stability, according to the state of Minnesota’s recent January Revenue and Economic Update.
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A deep dive into budget forecast: what it does and doesn’t tell us
December 18, 2020 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Minnesota isn’t sustainably bringing in enough revenues to fund its current commitments, which is showing up in a projected $1.3… Continue reading A deep dive into budget forecast: what it does and doesn’t tell us
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November forecast notes challenges but Minnesota can draw on resources so we can care for each other
December 1, 2020 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The state’s budget forecast highlights that improved state revenue figures are not necessarily tied to better well-being for everyday Minnesotans.
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Economic update shows COVID-19’s impact, need for federal action
October 15, 2020 • Clark Goldenrod
Federal Issues, Minnesota Budget, Minnesota Budget Outlook
COVID-19 is still a major threat to the country’s health, economy, and public services we all count on. The state… Continue reading Economic update shows COVID-19’s impact, need for federal action
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Budget reserve is one tool to put people first during tough times
October 6, 2020 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Every year, Minnesota Management and Budget (MMB) gives Minnesotans an estimate of what the state needs in its “rainy day”… Continue reading Budget reserve is one tool to put people first during tough times
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State budget process kicks off amid unusual uncertainty
October 1, 2020 • Betsy Hammer
Minnesota Budget, Minnesota Budget Outlook
Fresh pencils for back to school, shorter days, bright red maples – these are a few of the classic harbingers of… Continue reading State budget process kicks off amid unusual uncertainty
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Minnesota expecting continued revenue shortfalls; time for strong federal action
August 10, 2020 • Clark Goldenrod
Federal Issues, Minnesota Budget, Minnesota Budget Outlook, Minnesota Taxes
Last week brought us more sobering news about the ongoing damage that COVID-19 is expected to have on the economy,… Continue reading Minnesota expecting continued revenue shortfalls; time for strong federal action
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New data confirm states need more federal Medicaid support
August 3, 2020 • Betsy Hammer
Federal Budget, Federal Issues, Health Care, Minnesota Budget, Minnesota Budget Outlook
What does a global pandemic plus a severe economic recession equal? More people who need affordable health care. We’re seeing data… Continue reading New data confirm states need more federal Medicaid support
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July economic update shows state will need all the tools in the toolbox
July 14, 2020 • Clark Goldenrod
Federal Issues, Minnesota Budget, Minnesota Budget Outlook, Minnesota Taxes
The state’s quarterly economic report shows that projections for the national economy have gotten even worse. While state revenues have come in a bit ahead of what was predicted in May, the state is still on track for a more than $2 billion budget shortfall for the current budget cycle.
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May budget report reveals the need to support everyday folks
May 5, 2020 • Clark Goldenrod
Federal Issues, Health Care, Income and Work, Minnesota Budget, Minnesota Budget Outlook
The May budget projection will guide the decisions that policymakers make in the remaining weeks of the legislative session, and the months beyond. They remind us of how many of our neighbors are struggling, and the importance of taking swift action to reduce the hardships that Minnesotans and their families are facing as a result of the pandemic, and to start building for the economic recovery.
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Increased Medicaid funding to states protects health care, critical services
May 4, 2020 • Betsy Hammer
Federal Issues, Health Care, Minnesota Budget, Minnesota Budget Outlook
While they have taken some preliminary steps, federal decision-makers should further boost the Medicaid dollars it sends to states, make that increase last until the economy recovers, and maintain strong requirements to protect health care coverage.
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April economic changes bring May budget projections
April 29, 2020 • Betsy Hammer
Minnesota Budget, Minnesota Budget Outlook
The novel coronavirus pandemic is having a significant effect on Minnesotans’ physical and mental health of Minnesotans. Unprecedented businesses closures… Continue reading April economic changes bring May budget projections
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Minnesota’s April economic update
April 14, 2020 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
It’s a bigger deal than usual, but doesn’t yet have all the answers: The April Revenue and Economic Update is a first look at the economic and fiscal impacts of the coronavirus crisis in Minnesota. The quarterly report from Minnesota Management and Budget (MMB) shows that state revenues have dropped considerably and the national economy has likely fallen into recession.
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Positive budget surplus is coupled with caution
February 27, 2020 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Minnesota’s positive budget balance coupled with continued modest economic growth give us short-term good news, however it also gives reasons for caution, with only a small structural balance in the next budget cycle before accounting for inflation and slowing economic growth in the future.
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January economic outlook is brighter
January 27, 2020 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
January’s Economic Update brought us good short-term news: revenues are up, and the economy is growing at a good pace for now. However, with slower economic growth and potential for a recession on the horizon, policymakers should prioritize a strong budget reserve to be able to meet Minnesotans’ needs in future tough times.
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Minnesota’s November budget forecast offers some near-term good news, while pointing to the need for sustained revenues for investments
December 5, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Minnesota’s budget reserve is strengthened and the state’s budget outlook gives us short-term good news, according to today’s release of the November Budget and Economic Forecast by Minnesota Management and Budget.
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Minnesota’s budget reserve is strong, let’s keep it strong
November 7, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Every year, Minnesota Management and Budget gives Minnesotans an estimate of what the state needs in its “rainy day” fund… Continue reading Minnesota’s budget reserve is strong, let’s keep it strong
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Minnesota’s October Economic Update shows good news for revenues, but the future’s not all roses
October 22, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The recently released October Revenue and Economic Update gave us some improved news about the state’s economic and budget landscape. The quarterly… Continue reading Minnesota’s October Economic Update shows good news for revenues, but the future’s not all roses
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Minnesota’s July Economic Update shows higher revenues, economic growth for now
July 12, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The recently released July Revenue and Economic Update gave us somewhat good news about the state’s economic and budget landscape.
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Raiding the state’s budget reserve today could hurt everyday Minnesotans tomorrow
July 2, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
It’s imperative to build a strong budget reserve when the state’s economic outlook is good, and Minnesota has made laudable progress. But that budget reserve will only work if we keep it strong and only use it when it’s needed.
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Minnesota’s April Economic Update shows small improvements
April 17, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The recently released April Revenue and Economic Update gave us good news about the state’s economic and budget landscape. The quarterly report… Continue reading Minnesota’s April Economic Update shows small improvements
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Governor Walz’s FY 2020-21 budget proposals in E-12 education and higher ed invest more in Minnesota’s students
April 16, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Governor Tim Walz’s FY 2020-21 budget proposal includes provisions that support students across the state, as well as more targeted funding intended to… Continue reading Governor Walz’s FY 2020-21 budget proposals in E-12 education and higher ed invest more in Minnesota’s students
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Minnesota’s February budget forecast reinforces the need for resources to fund the investments Minnesotans count on
February 28, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Policymakers’ primary task in the upcoming legislative session will be to set a budget for the FY 2020-21 biennium, and… Continue reading Minnesota’s February budget forecast reinforces the need for resources to fund the investments Minnesotans count on
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Minnesota’s January Economic Update shows reason for caution
January 16, 2019 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The recently released January Revenue and Economic Update gave us unsettling news about the state’s economic and budget landscape. The quarterly report from… Continue reading Minnesota’s January Economic Update shows reason for caution
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Minnesota’s November budget forecast shows good news for right now, but the future’s looking iffy
December 6, 2018 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
Today’s forecasted surplus gives policymakers an opportunity to build toward shared prosperity that reaches Minnesotans across the state, whether in… Continue reading Minnesota’s November budget forecast shows good news for right now, but the future’s looking iffy
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October Economic Update shows higher state revenues, but mixed news on economic growth
October 12, 2018 • Clark Goldenrod
Minnesota Budget, Minnesota Budget Outlook
The recently released October Revenue and Economic Update gave us mixed news about the state’s economic and budget landscape. The quarterly report from… Continue reading October Economic Update shows higher state revenues, but mixed news on economic growth
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Minnesota’s July Economic Update shows higher state revenues, but mixed economic news
July 12, 2018 • Minnesota Budget Project
Minnesota Budget, Minnesota Budget Outlook
The recently released July Revenue and Economic Update gave us mixed news about the state’s economic and budget landscape. The quarterly report from… Continue reading Minnesota’s July Economic Update shows higher state revenues, but mixed economic news