Dear Friends and Neighbors,
The Office of Minnesota Management and Budget released its November Economic Forecast earlier today. Our state has an overall budget surplus of $1.4 billion heading into Fiscal Years 2018-19. Additionally, by law, $334 million of this biennium’s balance is automatically put into the state budget reserve which is now up to $1.9 billion.
The November forecast guides our preliminary discussions as we work to craft a budget for the next two-year biennium. The November forecast is followed by updated numbers in February which will provide us the final economic analysis before finalizing and passing the budget.
This surplus is positive news for the state of Minnesota, but it also means we’re collecting too much from hardworking taxpayers. While our state may see a surplus, every family faces different economic situations, and many still face economic challenges and are working hard to make ends meet. That’s why middle-class tax relief will be one of our top priorities when session reconvenes in January.
In addition, we will work to hold the line on spending and ensure responsible state government. Our goal is to examine every dollar of the state budget to see where we can find savings, improve efficiencies and make government more accountable to the people it serves.
In the weeks leading up to the start of the legislative session on January 3, I will continue to share with you our Republican governing priorities. In the meantime, I welcome your thoughts on what you would like to see happen in the legislature next year. In order to best represent our communities, I need to hear from you, so please don’t hesitate to contact my office at any time. My direct line is 651-296-7806. My email address is rep.joyce.peppin@house.mn and my mailing address is Room 459 State Office Building, 100 Dr. Martin Luther King Boulevard, St. Paul, MN 55155.
Have a wonderful weekend.
Sincerely,
Joyce
**Encourage your neighbors and friends to sign up for my email updates at www.house.mn/34A