Minnesota's staggering surplus stays mostly unchanged at $17.5 …

Feb 28, 2023 · Minnesota's staggering estimated budget surplus remained largely unchanged at $17.5 billion, with Monday's financial forecast setting up DFL state leaders to continue their …

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Feb 28, 2023 · Minnesota's staggering estimated budget surplus remained largely unchanged at $17.5 billion, with Monday's financial forecast setting up DFL state leaders to continue their …

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Feb 27, 2023 · Feds estimate Minnesota overpaid about $430 million in unemployment benefits during pandemic. 2 Hours ago. Woman dies, man arrested in head-on Minneapolis crash. 4 …

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Minnesota's Staggering Surplus Stays Mostly Unchanged At …

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Minnesota's staggering estimated budget surplus remained largely unchanged, with the latest financial forecast at $17.5 billion. But for the first time in two decades, that figure factors in …

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Minnesota Budget Surplus Tops $17 Billion - MPR News

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Dec 6, 2022 · Minnesota’s budget surplus has grown to $17.6 billion, setting the table for the governor and lawmakers to use for the 2023 legislative session. The state, though, still faces …

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How Can Minnesota Have A Record-breaking Surplus In A

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Dec 7, 2022 · For a state that spends around $2.16 billion a month, the amount of collected and projected tax revenue is more than the amount needed to cover current state budgetary costs …

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New Jersey Faces Steep Deficits In Coming Years, Group Warns

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Feb 13, 2024 · The group’s pessimistic scenario, which assumes a mild recession the state then recovers from, predicts a $4.5 billion deficit in the coming fiscal year, rising to more than $7 …

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Minnesota's Staggering Surplus Stays Mostly Unchanged At $17.5 …

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Feb 27, 2023 · For the first time in 20 years, the prediction accounts for inflation in spending.

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FAQs about Minnesota's staggering surplus stays mostly unchanged at $17.5 … Coupon?

Does Minnesota have a budget surplus?

Minnesota House Speaker Melissa Hortman delivers remarks about the updated budget forecast in the Minnesota Department of Revenue building on Monday. Minnesota Management and Budget leaders on Monday announced that the state is projected to post a $17.5 billion budget surplus, down slightly from the number they forecast in December. ...

What is the record surplus in Minnesota?

Minnesota’s record surplus is $17.5 billion, according to the state’s budget office. The previous surplus of $17.6 billion was reported in November. ...

Will Minnesota still have a tax surplus?

After that, state officials estimate Minnesota will still see a tax revenue surplus of about $4 billion a year if there are no broad changes to tax rates. House and Senate leaders will continue vetting their own budget proposals over the next few months. The state budget is due before the legislative session concludes at the end of May. ...

How big is Minnesota's surplus?

But according to Minnesota Management and Budget Commissioner Jim Schowalter, the surplus started off even bigger — that some of that amount was automatically spent via a set of triggers set off under law when the state has excess money. How big? $8.98 billion big. ...

Is the state budget surplus a record?

The state of Minnesota has a record-breaking surplus of $17.6 billion in tax revenue. This is more than enough to cover the current state budgetary costs, which are around $2.16 billion a month. Before this, the surplus for the current and following two-year budget cycles was only $12 billion. ...

How much is a state surplus based on inflation?

That accounting move means that rather than showing a $19 billion surplus with a potential inflationary impact of $1.5 billion, the forecast showed a $17.5 billion surplus that assumes the state will spend an extra $1.5 billion on existing programs because of inflation. ...