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Legislative News and Views - Rep. Ben Lien (DFL)

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RELEASE: Budget surplus grows to $1.65 billion; Lien sees opportunity for economic growth

Tuesday, February 28, 2017

ST. PAUL— Today, officials from Minnesota Management and Budget announced the February Economic Forecast projecting a $1.65 billion surplus for the FY 2018-2019 biennium. This number is up from the $1.4 billion projected in November.

"This is great news for Minnesota as our state fiscal outlook continues to be healthy,” said Rep. Ben Lien (DFL – Moorhead), who also noted a need to exercise caution.

"We do need to be prudent with these surplus dollars though,” he continued. “Careful deliberation needs to be made for the state budget over the next two years to be certain we continue to grow our economy for all Minnesotans. Property tax relief for farmers, higher education funding, job training and broadband funding are all areas that will help our economy grow."

The forecast again shows Minnesota with low unemployment as jobs continue to be added at a consistent rate. Businesses are growing and the state’s housing market remains strong as well. State budget officials pointed to these indicators highlighting the state economic picture as positive, but highlighted “significant risks” to the long-term budget outlook due to uncertainties at the federal level.

Following the budget forecast, next month Gov. Mark Dayton will revise his budget recommendations, and the stage is now set for the Legislature to put together budget and tax policy bills.

Rep. Lien represents the communities of Moorhead and Oakport Township in the Minnesota House. He can be reached at 651-296-5515 or at rep.ben.lien@house.mn.