But, he says, the updated budget forecast ‘doesn’t paint doom and gloom’
The office of Minnesota Management and Budget (MMB) released its February revenue forecast on Friday, providing an updated outlook for Minnesota’s financial future. According to the report, the state has a $1.052 billion surplus for the remainder of the 2020-21 budget cycle, $492 million less than what was projected in the November forecast.
The reduced surplus should lead to more cautious legislative decisions when it comes to state spending levels over the next biennium, says District 1 State Sen. Mark Johnson, a Republican from East Grand Forks.
“While the forecast doesn’t paint certain doom and gloom, it does encourage the legislature and the governor to act responsibly and exercise caution when crafting our state’s budget,” Johnson said. “I will focus my priorities on the issues important to Minnesota families, including health care, education, roads and bridges without jeopardizing the state’s bottom line or the threatening Minnesota families with a tax increase.”