Tag: Minnesota budget

July economic update shows state will need all the tools in the toolbox

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.

Special session begins; Minnesotans call for bold action

The COVID-19 crisis, and the longstanding crises in policing and racial inequity in Minnesota, have damaged our health, livelihoods, and communities. Policymakers must take bold steps to better ensure Minnesotans can stay healthy, safe, and get by economically in the immediate term, and invest in resilience in all communities for the future.

May budget report reveals the need to support everyday folks

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.

Minnesota’s April economic update

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.

A look at the first federal policy steps to combat coronavirus, address economic impact

The federal government has begun to respond to the coronavirus with legislation over the past few weeks. The first was… Continue reading A look at the first federal policy steps to combat coronavirus, address economic impact

Positive budget surplus is coupled with caution

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.