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Minnesota Budget Plans

04/03/24
  • Minnesota Taxes
  • Minnesota Taxes and Tax Plans
  • Minnesota Budget Plans
  • Minnesota Budget

Joint state budget targets set for 2024 Legislative Session

Minnesota Capitol in spring
Governor Tim Walz reached an agreement with House Speaker Melissa Hortman and Senate Majority Leader Erin Murphy on budget targets on March 22. The agreement outlines targets of $478 million in net general budget changes, including increased spending or reduced revenues, for FY 2024-25 and $63 million for FY 2026-27. The joint budget targets also set the parameters for final budget negotiations between the House, Senate, and the governor.
03/26/24
  • Minnesota Taxes
  • Minnesota Tax Credits
  • Minnesota Budget Plans
  • Minnesota Budget

Governor Walz’s supplemental budget proposal lays out his priorities

father and two children forming a heart with their hands
Governor Tim Walz released his governor’s supplemental budget proposal. The administration described the priorities for his budget as safe communities, clean drinking water, and support for children and families. At the Minnesota Budget Project, we were thrilled that one of our top priorities was included in the governor’s supplemental budget: resources to implement advance periodic payments of the Child Tax Credit. In total, Walz proposed $200 million in net general fund spending increases and revenue reductions in FY 2024-25 and $27 million in FY 2026-27.
03/23/23
  • Minnesota Taxes and Tax Plans
  • Minnesota Budget Plans
  • Minnesota Budget

Early agreement on state budget targets outline use of the surplus

On Tuesday, the Minnesota House and Senate leadership and Governor Tim Walz released joint budget targets that lay out ...
02/01/23
  • Transportation
  • Minnesota Taxes and Tax Plans
  • Minnesota Budget
  • Immigration
  • Minnesota Tax Credits
  • Health Care
  • Child Care
  • Minnesota Budget Plans
  • Minnesota Taxes

Governor Walz releases FY 2024-25 budget priorities

In his proposal for the two-year FY 2024-25 budget cycle, Governor Tim Walz proposes $11.2 billion in additional funding for public services, with the largest amount of new dollars going toward education, economic development, and health and human services. He also proposes $5.4 billion in tax reductions in FY 2024-25, with the biggest component being a one-time tax rebate. Read more in our blog.