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Minnesota Faces $6 Billion Deficit Amid $456M Surplus

3/6/2025

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Summary

Story summary

Minnesota's budget forecast reveals a $456 million surplus for 2026-27, a $160 million drop from earlier predictions. However, the looming deficit for 2028-29 has ballooned to nearly $6 billion, driven by inflation and shifting federal policies. As economic uncertainties rise, lawmakers must navigate tough negotiations to achieve a balanced budget by May 19.

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Story summary

Minnesota's budget forecast reveals a $456 million surplus for 2026-27, a $160 million drop from earlier predictions. However, the looming deficit for 2028-29 has ballooned to nearly $6 billion, driven by inflation and shifting federal policies. As economic uncertainties rise, lawmakers must navigate tough negotiations to achieve a balanced budget by May 19.