Best State To Raise a Family
(WalletHub, 1st in 2020; 2nd in 2021)
New state budget forecast highlights opportunity for growth
6 Mar 2026
News
A week ago, last Friday, the state’s budget forecast was updated with the February forecast. The Chamber put out a statement noting that when Minnesota’s economy grows, the state’s budget outlook improves and creates economic opportunity for all Minnesotans.
This new forecast is important because it serves as a jumping-off point for the legislative session. It shows a $3.7 billion budget surplus, which is an increase from the previous estimate and demonstrates how economic growth strengthens the state’s fiscal position. However, long-term challenges remain. The state is projected to face a $2.3 billion deficit in fiscal years 2028 and 2029. Spending continues to outpace revenue. Annual revenue growth is projected at 1.9%, while baseline spending is growing at 2.9%. That structural imbalance reinforces our message that policies that grow the economy can help close the gap and reduce pressure on taxpayers.
Click here to read the original article from the Minnesota Chamber of Commence.
More Topics
Minnesota has more wind energy than we can handle, and a project in southern Minnesota wants to use the leftover capacity to power the first local, commercially available ammonia fertilizer.To start, that wind: Minnesota sits in a region that in recent years has had 4-9 million megawatt annual hours of...
Marilyn lost her position at a government agency in October 2024 after the grant money that funded her position ended. She immediately turned to CareerForce, remembering when the program assisted her in a previous job search in 2012."I've gone through other sources for job coaching but what I've always found...
By DEED Commissioner Matt Varilek:Minnesotans across the state continue to feel the impact of Operation Metro Surge. ICE's actions in our communities, in addition to the traumatic human impact, have had a chilling effect on scores of businesses and workers across the state. Many establishments have been left without patrons,...