SAINT PAUL, Minn. – Today, Minnesota Management and Budget (MMB) announced the November Economic Forecast, projecting a $641 million surplus for the current budget cycle, while a deficit of $1.273 billion is projected for the next biennium. The forecast shows Minnesota is well positioned to provide immediate economic aid to workers and small businesses, according to Rep. Julie Sandstede (DFL – Hibbing).
“Small businesses, workers, and families deserve a robust relief package right now to help them emerge on the other side of this pandemic,” Rep. Sandstede said. “While there are reasons to be optimistic, including a vaccine on the horizon, Minnesotans need our help now. We have the ability to deliver this critical aid; all we need to do is come to a compromise so Minnesotans can be in a stronger position to weather this awful economic storm.”
House DFL lawmakers continue to work with Governor Walz and Republicans to reach agreement on a COVID-19 relief package while Minnesota awaits more aid from the federal government. On November 24, House DFLers and Governor Walz announced a new plan to help Minnesotans whose livelihoods and family businesses are most likely to be harmed by the pandemic.
The plan includes direct aid to small businesses, an eviction moratorium, a 13-week unemployment extension, and emergency $500 payments to struggling families. It also helps Minnesotans put food on the table with grants to restaurants to provide food for healthcare workers, homeless shelters, and long-term care facilities.