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State Representative Patti Fritz
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8237
For more information contact: Jessica Nyman 651-296-8877
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Rep. Fritz: Even with Forecasted Surplus, MN Still Sees Future Deficit
Saint Paul, Minnesota – Today, Minnesota Management and Budget released their budget forecast, indicating a $323 million budget surplus for the rest of this biennium.
State Representative Patti Fritz offered the following remarks:
“While I welcome reports that our economy is on the upswing, I believe that it’s always important to look at what the picture looks like down the road. Unfortunately, despite offering a minor surplus, the forecast also indicated a substantial deficit for the next budget cycle of $1.1 billion—a number which is expected to increase due to inflation.
“What’s more is that the Commissioner of Minnesota Management and Budget said the while we have a $323 million surplus, the actual balance of our budget remains at zero, as this money is automatically used to pay back debts and fill up our budget reserves.
“Perhaps the most encouraging aspect of this surplus is that we have finally begun paying back the money we owe our schools. However, we still have a long road ahead in paying back this debt. Even with the payment resulting from today’s surplus we will still owe Minnesota school’s $2.4 billion.
“Even with the large cuts made last session, we still face a significant budget deficit next year. Looking to the future, we need to work together to budget responsibly in a way that does not ask our young minds to pay more, while solving our structural deficit problem."
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News Items
- STATE REP. PATTI FRITZ PARTICIPATES IN START OF LEGISLATIVE SESSION - (Posted: Jan 9 2013 3:32PM)
- Rep. Fritz: Homeowners, Farmers Need Property Tax Relief - (Posted: 2012-05-01 00:00:00)
- Rep. Fritz: Let’s Vote on a Bonding Bill that Benefits All - (Posted: 2012-04-19 00:00:00)
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