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.
Tag: Minnesota budget
Legislative Budget Office will make its debut in upcoming session
The 2020 Legislative Session will involve a new player: the Legislative Budget Office, or LBO. The LBO will be responsible for producing fiscal notes, working in concert with state agencies to estimate the fiscal impact of proposed legislation
January economic outlook is brighter
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.
Minnesota’s November budget forecast offers some near-term good news, while pointing to the need for sustained revenues for investments
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.
Minnesota’s October Economic Update shows good news for revenues, but the future’s not all roses
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
Final transportation budget bill falls short of meeting the needs of Minnesotans
Despite several proposals put forward this legislative session to increase the amount of resources dedicated to building and maintaining Minnesota’s roads, bridges, and transit infrastructure, the FY 2020-21 budget only raises minimal additional revenues.
Minnesota’s July Economic Update shows higher revenues, economic growth for now
The recently released July Revenue and Economic Update gave us somewhat good news about the state’s economic and budget landscape.
Final education budget makes important investments, but leaves more to do to support all Minnesota students
The final E-12 education and higher education budgets for FY 2020-21 make important strides toward ensuring that more students across… Continue reading Final education budget makes important investments, but leaves more to do to support all Minnesota students
Raiding the state’s budget reserve today could hurt everyday Minnesotans tomorrow
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.
Critical funding for health care preserved but small gains in support for families
Overall, the final HHS budget agreement is a mixed bag for Minnesotans.