Dear neighbors,
Friday, the February economic forecast was presented by Minnesota Management and Budget (MMB) officials at the Capitol. These economic forecasts are released twice a year and indicate the strength of our economy and whether our state has a budget surplus or deficit. The Commissioner of MMB had good news to share!
Minnesota’s economy continues to improve. More jobs are being created and there are signs that wages have increased slightly, and will continue to do so with more job vacancies. The report shows our state budget has improved, and we now have a projected $1.9 billion two-year budget surplus. The surplus is due to a multitude of factors, including higher revenues, lower spending and several other improving facets of Minnesota’s economy.
I’m thankful for the work of the DFL-led legislature who came before me and passed a balanced budget that invested in education and prioritized working Minnesotans ahead of a few wealthy special interests. Minnesotans are more confident in our economy today than they have been in years, and the budget is balanced without the gimmicks of the past. To continue this positive economic momentum, we must now make strategic investments in education, transportation, and proposals like the Working Parents Act to expand opportunity for Minnesota families.
We know there are still so many Minnesota families that have not yet felt the full benefits of the economic recovery. College affordability, quality education, the cost of child care, and affordable health care are all real concerns facing Minnesota families that call for greater action. Our positive economy and stable budget is a great opportunity to focus our agenda on solutions that matter to the lives of hardworking Minnesotans.
If you have ideas about how to grow Minnesota’s economy or utilize our state budget surplus, I would like to hear them. Please contact me anytime with your comments, questions and concerns. I appreciate hearing from you. During the legislative session, my office in St. Paul can be reached by email at Rep.Jennifer.Schultz@house.mn or by phone at 651-296-2228.
Sincerely,
Jennifer Schultz
State Representative