Last week, Minnesota Management and Budget (MMB) released the 2019 November Budget and Economic Forecast, showing a projected balance of $1.332 billion for 2020-2021.
The state budget forecast reflects current law and is based on the most recent information about the national and state economic outlook. What this estimate does not include is the rate of inflation in future years, which could reach $1.221 billion, according to state budget analysts.
While Minnesota’s budget remains relatively stable, federal tariffs and trade policies threaten the economic outlook for our state and Minnesota families. It’s important to exercise caution, which is why I’ve co-authored legislation that would include the rate of inflation in these economic forecasts. The goal is to give more accurate numbers, helping us enact wise budgeting and smart investments Minnesotans deserve.
Please don’t hesitate to reach out with input on what budgetary values are important to you and your family.
Keep in Touch
Please contact me anytime with ideas or questions. Your input is important, especially with the 2020 legislative session right around the corner. You can reach me at 651-296-5513 or at firstname.lastname@example.org. If you know of anyone who may be interested in receiving these periodic updates from the Capitol, they can subscribe here. For additional updates, follow me or ‘like’ my official page on Facebook.
It’s an honor to represent you in St. Paul.