ST. PAUL, MN – The February budget forecast has been released and shows a projected budget deficit of $627 million for fiscal years 2014-15. The previous November budget forecast showed a projected deficit of $1.1 billion. Due to the new forecast numbers, $290 million will be put towards paying back the K-12 school shift borrowed by the previous legislature.
State Representative Paul Rosenthal released the following statement:
“I am pleased to see that we have reduced our state budget deficit and that Minnesota is on the path to greater economic security. Minnesota is ahead of the nation in job recovery and we will continue to work to grow new jobs and boost our economy.
“We are making good progress towards paying back the money that was unfortunately shifted from our K-12 schools by the previous legislature. While there is still a deficit, I am sure that we can responsibly close the budget deficit and fund the priorities that will make Minnesota strong and economically competitive in the future.
“The new budget forecast provides a better environment for the advancement of my legislation to fund the extension of the Southwest Light Rail Corridor to the west metro suburbs. In addition, it provides a better opportunity to get out of the cycle of continued budget deficits that we have been plagued with for the last decade and to prepare Minnesota for the future.”
Rep. Rosenthal can be reached by phone at 651-296-7803 or by email at rep.paul.rosenthal@house.mn.
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