SAINT PAUL, MN— Today the Office of Minnesota Management and Budget announced a forecasted state budget surplus of $1.65 billion for fiscal years 2018-19, an increase from the $1.4 billion forecasted last December. Lower forecast revenue projections are partially offset by reduced spending estimates. The current biennium is now projected to end with a balance of $743 million. General fund revenue growth continues into FY 2018-19. State Rep. Lyndon Carlson (DFL – Crystal) said that the forecast is good news, and an expanded opportunity to help Minnesotans get ahead.
“This positive budget forecast confirms that our economy is stable and strong, but we must still be cautious about future risks and continue our balanced approach. Minnesotans need us to come together to make this surplus work for them,” said Rep. Carlson. “I hope this extra flexibility helps provide the space leaders need to reach agreement on important priorities for Minnesotans. We must address rising private health insurance rates, the need for middle class tax cuts, and critical investments in our infrastructure to create jobs and opportunities in every region of Minnesota.”
Rep. Carlson said that during this legislative session he is continuing to focus on expanding opportunity for middle class families to find good jobs and affordable healthcare.
“The forecast points to continued growth in Minnesota’s economy, but it also underlines the urgency required to help Minnesota families who have been left behind in this economic recovery,” said Rep. Carlson. “I think we do best when we practice fair and balanced budgeting, and that means using this surplus to invest in job creation, education, and property tax relief that helps middle-class families find prosperity. We must also continue to prudently maintain our state budget reserve in preparation for the future.”
Rep. Carlson encourages constituents to contact him with any questions, comments, concerns, or ideas on any legislative topic. Rep. Carlson can be reached by phone at 651-296-4255 or by email at rep.lyndon.carlson@house.mn .
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