Dear northlanders,
Today the Office of Minnesota Management & Budget announced a state budget surplus of $1.4 billion for fiscal years 2018-19. $334 million is put into state reserve accounts also known as the “rainy day fund.” The forecast is good news, but many ordinary Minnesotans still continue to struggle during our current economic recovery.
Minnesota’s growing budget surplus confirms what we’ve been seeing since 2013 – that Minnesota’s statewide economy is stable and continues to grow and recover. However, there are clear areas that have been left behind and where we have more work to do. The current rising costs of health insurance rates for individuals in the private market need immediate attention from the legislature. We also must come together to raise incomes and job opportunities for Minnesotans and make sure our economy is working for everyone, not just the wealthy.
Unfortunately for northern Minnesota our unemployment rate remains much higher than the state average. The forecast underlines the urgency required to help Minnesota families who have been left behind. I think we do best when we practice fair and balanced budgeting, and that means we must wisely use a portion of this surplus for middle class tax relief and property tax relief that helps families find prosperity.
The next economic forecast will be in late February 2017. The 2017 Legislative Session begins on January 3rd. A major focus of the next session will be to pass a robust bonding bill to create jobs and to help local communities stop property tax increases on middle-class homeowners and small businesses.
Please don’t hesitate to contact me with any questions or concerns you may have.
Sincerely,
Rob Ecklund
State Representative