Dec 7 - $7.7 Billion Projected Surplus

MMB Commissioner JIm Schowalter presents the revenue forecast during a news briefing.

Gov. Tim Walz said during a news briefing, “This is good news for Minnesotans”. The governor along with House and Senate Democrats will seek additional support for working Minnesotans. The Democrats proposals for part of the surplus may include additional funding for paid leave, child care, housing, infrastructure and better schools. While Republicans’ proposals may provide additional tax relief feeling the budget is large enough and there’s no need for additional spending and creating ongoing programs. Some of the surplus will go to dedicated funds, accounting shifts and the budget reserve. House and Senate members return to the Capitol January 31, 2022 and will attempt to finish by the middle of May. With the redistricting of all 201 legislative seats and the governor’s office up for grabs candidates will be eager to be campaigning for the November election.

Gov. Tim Walz and Lt. Gov. Peggy Flanagan listen as MMB Commissioner Jim Schowalter concludes the revenue forecast.

Gov. Tim Walz calls the $7.7 billion revenue forecast good news for Minnesotans.

Senate Minority Leader Melisa Lopez Franzen reacts to the $7.7 billion revenue forecast.

House Minority Leader Kurt Daudt, left, and Senate Finance chair Julie Rosen, right, react to MMB’s revenue forecast of $7.7 billion surplus.