SAINT PAUL – Minnesota Management and Budget today released the November Economic Forecast, showing a positive budget balance of $1.332 billion for the 2020-21 biennium. The state’s budget reserve is also now at its statutory target amount of $2.359 billion.
State Rep. John Lesch (DFL – Saint Paul) released the following statement:
“We’ve only been able to reach this level of stability through responsible budgeting while investing in what makes our state strong. The 2020 legislative session should focus on these areas like protecting affordable, accessible health care, economic justice and security for all Minnesotans no matter where they live or what background they may come from, and educational excellence throughout the state. We also have the capacity to significantly invest in public infrastructure like housing, transportation, clean water, colleges, and universities, including priorities within the City of Saint Paul.
“Predictably, with the ink on the forecast not even dry, Republicans are demanding more tax breaks, which would undoubtedly benefit the wealthy and corporations the most. With global economic uncertainty and inflation not fully accounted for, this recklessness could lead to budgetary disaster and the core services Minnesotans count on at risk. Instead, I’ll remain committed to protecting the values which form a strong foundation for all Minnesotans to prosper.”