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Minnesota Budget Outlook and Trends

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The state's budget is influenced by economic conditions, and in return, state budget and policy decisions should be informed by how Minnesotans are being effected by the economy. We provide analysis of the state's economic and budget forecasts as well as research on long-term budget trends.

Research

January 2002

Wasted opportunities: How we used our surpluses 1997-2001

Between 1997 and 2001, Minnesota policymakers had the opportunity to allocate budget surpluses of over $13 billion. This joint analysis with the Children's Defense Fund-Minnesota finds that over half of those surpluses went to temporary tax rebates and permanent tax cuts. Budget-balancing decisions should be informed by how surpluses were used in the past and how certain programs were underfunded even in times of plenty.

Budget Outlook and Trends Blog Posts

April 15, 2022

Minnesota April Economic Update includes first estimates of impact of Russia invasion of Ukraine

The state of Minnesota’s revenue picture to date is still solid, but the national economic recovery is now expected to...

March 01, 2022

New budget forecast continues to show resources available to build an equitable recovery

The State of Minnesota is expected to see unprecedented levels of resources, including a strong boost in the short-term ...

January 14, 2022

Newest state revenue update affirms substantial resources are available to build an equitable recovery

The state of Minnesota’s revenue picture continues to improve, but the national economic recovery is expected to be a li...

December 07, 2021

Historic state budget forecast presents historic opportunity

The forecast projects a $7.7 billion general fund surplus for the current FY 2022-23 budget cycle, and a $6.0 billion structural balance for the upcoming FY 2024-25 budget cycle. These projections represent a historic opportunity to make transformational changes to build a more equitable recovery.