St. Paul, Minnesota — Today Minnesota Management and Budget announced that the February budget forecast shows a projected budget deficit of $627 million for fiscal years 2014-15. This is an improvement from the November budget forecast that showed a projected deficit of $1.1 billion. Fiscal year 2012-13 is now projected to have a positive balance of $295 million, $290 million of which is directed to paying back the school shift, leaving a balance of $801 million remaining.
“I’m pleased that our deficit is shrinking, but it’s still another in our decade of deficits,” said Rep. Ward. “Instead of balancing the budget honestly, we’ve papered over deficits with gimmicks and one-time solutions. Minnesotans deserve a budget that is balanced honestly without gimmicks, one that funds the things we value as Minnesotans and keeps us economically competitive.”
“This is positive news, but a $627 million deficit and an $800 million IOU to schools means there is still work to do,” said Rep. Radinovich. “We have less of a mess to clean up, but a mess nonetheless. We need to close this deficit and begin re-investing in Minnesota’s future.”
Reps. Ward and Radinovich encourage constituents to contact them with any questions, comments, concerns, or ideas on any legislative topic. Rep. Ward can be reached by phone at 651-296-4333 or by email at rep.john.ward@house.mn. Rep. Radinovich can be reach by phone at 651-296-2365 or email at rep.joe.radinovich@senate.mn.