St. Paul, MN – 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 2022-2023 biennium beginning July 1. The economic projections show that Minnesota is well-positioned to provide immediate economic aid to workers and small businesses.
“With Minnesotans continuing to struggle and sacrifice amidst a global pandemic, today’s budget forecast brings the financial justification to act for families and small businesses,” said Rep. Todd Lippert (DFL - Northfield). “We have a choice - we can either do nothing when we have the resources available to us, or we can use these resources to see Minnesotans through this crisis. Now is the time to provide assistance for our families, workers, and small businesses.”
House DFL lawmakers continue to work with Governor Walz and Republicans to reach an 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.
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