Minnesota Management and Budget released the state’s economic forecast on Wednesday, sharing a positive outlook on the state’s future.
DFL House Co-Speaker Designate Melissa Hortman shared that there’s a $3.7 billion surplus in the current biennium, a $616 million positive balance in the upcoming budget cycle, and another $3.5 billion set aside.
“When you look at this biennium and the next one, the ones that we are most responsible for shaping in the previous budget session, we left Minnesota in really strong condition,” Hortman said.
However, not everyone is on board, as House Republican Co-Speaker Designate Lisa Demuth says there are still real concerns and Democrats are to blame.
Demuth highlighted the projected forecast for the 2027-28 biennium, which shows there is a $5 billion deficit.
“Instead of listening to those warnings, Democrats went on that spending spree, spending our $18 billion surplus instead of sending it back to overtaxed Minnesotans in the way of tax relief or other methods,” Demuth said.
With the state House in a tie, Demuth says it’s going to take bi-partisan work to solve the upcoming problems.