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Fogelman




Hello from the State Capitol,

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Minnesota's February state budget forecast shows a positive balance of $3.7 billion for the remainder of the current fiscal year but projects a $1.5 billion deficit for the next budget cycle.

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It?s traditionally good news when you see the state has a budget surplus. But when that same projection notes you have a significant budget deficit that will need to be dealt with next session, there?s no reason to celebrate.

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Revenue forecast projections are created by analyzing financial decisions made in previous state budgets. In this case, last session the majority party spent a nearly $20 billion budget surplus, then raised taxes by another $10 billion, and crafted a budget that increased state spending by 40%.

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The $3.7 billion surplus must be allocated by the time session ends in May to keep the current budget in balance.

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People need to remember that any permanent spending increase approved this session will be tacked on to our projected budget deficit problem for next session. Residents should know I will be fighting for fiscal restraint for the remainder of the session, as its clear Minnesota?s taxpayers are already contributing plenty to state government.

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Have a good weekend,

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Marj









323 State Office Bldg.
100 Rev. Dr. Martin Luther King Jr. Blvd.
St. Paul, MN 55155
651-296-5373
[email protected]







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