Today the Office of Minnesota Management and Budget announced a projected state budget surplus of $1.4 billion for fiscal years 2018-19. Lower forecast revenue projections are partially offset by reduced spending estimates. The current two year period is now projected to end with a balance of $678 million, after $334 million is put into state budget reserves, as required by law. State Rep. Clark Johnson (DFL – North Mankato) said that the forecast is good news, but that legislators need to refocus efforts to make the surplus work for ordinary Minnesotans.
“I am grateful for the steady economic forecast and I remain focused on the needs of everyday Minnesotans,” said Clark Johnson. “Too many Minnesotans are struggling to get by. I hope with this news we can quickly reach an agreement on special session to provide relief for those who are seeing sky-rocketing healthcare premiums.”
The forecast revealed that Minnesota’s economy is stable and growing. Rep. Johnson said his main focus in 2017 will be completing the improvements and adding staff at the Minnesota Security Hospital, dedicating new funds for transportation, continuing to invest in strong public education and expanding opportunity for Minnesotans to find good jobs and affordable healthcare.
“We must address Minnesota’s critical needs. We have waited too long to complete the improvements at the Minnesota Security Hospital and addressing the rising healthcare premiums. We also need to be cautions while moving forward to not jeopardize our stable fiscal footings.”