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State economic forecast predicts $7.7 billion surplus

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Fueled by “extraordinary growth” in income, consumer spending and corporate profits, Minnesota is predicted to have a $7.7 billion budget surplus for the fiscal 2022-23 biennium.

That news was shared Tuesday by Minnesota Management and Budget as part of its November 2021 Budget and Economic Forecast.

The second of two annual economic estimates the state uses to inform its budgeting and policy decisions, November’s forecast continued the upbeat outlook predicted in the February 2021 Budget and Economic Forecast which called for a $1.6 billion surplus.

State officials also cited higher-than-predicted tax receipts as a driving factor for the surplus. Read more at Session Daily

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WEDNESDAY: House/Senate Media Availability
Wednesday, January 26 2022 1/26/2022 10:00 AM
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Senators and Representatives hold a media availability to discuss the formation of the Minnesota Health Plan Caucus.

JANUARY 31: Session Daily Update
Monday, January 31 2022 1/31/2022 11:55 AM
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Updates from the House

JANUARY 31: House Floor Session*
Monday, January 31 2022 1/31/2022 12:00 PM
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*Start of the 2022 Legislative Session.
House Floor Session.


FEBRUARY 8: Joint House Early Childhood Finance and Policy & House Workforce and Business Development Finance and Policy hearing
Tuesday, February 8 2022 2/8/2022 5:30 PM
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The Importance of early care & learning to Minnesota business.
- University of Minnesota’s Masonic Institute for the Developing Brain.
- First Children’s Finance.
- The Itasca Project - First 1,000 Days.
- Items may be added.
* No public testimony will be taken at the hearing.


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