Budget forecast shows shortfall on state horizon
Published on March 5, 2024 at 3:14pm EST | Author: frazeevergas
0To the Editor,
State officials issued a new economic forecast for Minnesota on Thursday, with a looming $1.5 billion shortfall through 2027 overshadowing a $3.715 billion surplus for the current biennium.
“Thursday’s news is proof again that Democrats’ reckless tax and spend agenda is driving Minnesota off of a fiscal cliff,” said Backer. “All of us are feeling the impacts of a 40 percent increase in government spending and nearly $10 billion in tax increases. Minnesotans’ family budgets are hurting as a direct result of irresponsible budgeting from Democrats. Now, more than ever, we need to return commonsense and fiscal sanity to St. Paul.”
The state is fully funded for the current two-year cycle, meaning no additional state spending is necessary this session. The new bottom line will guide legislators through supplemental fiscal considerations for the rest of the 2024 session.
Rep. Jeff Backer,
Browns Valley, Minn.