Minnesota surplus holds steady; sets stage for budget debate
1 year, 9 months ago

Minnesota surplus holds steady; sets stage for budget debate

Associated Press  

ST. PAUL, Minn. — An updated forecast put Minnesota’s budget surplus Monday at a still-enormous $17.5 billion, reflecting an improvement in the state’s fiscal picture and setting the stage for the nitty-gritty of the Legislature’s debates on spending and taxes. Tim Walz’s proposed $65 billion budget includes a combination of spending increases and tax credits to return some of the surplus to taxpayers, as well as reductions in taxes on Social Security income. “Our budget surplus means that our state is in a strong position to take decisive action to solve big challenges,” Democratic House Speaker Melissa Hortman, of Brooklyn Park, told reporters, listing her caucus’ priorities as education, health care costs and economic inclusion. “I think we’ll spend some time talking with the governor, and with our tax chairs, and with the revenue commissioner about the best way to structure tax cuts for the people of Minnesota,” Hortman said. “With single-party control, Democrats’ priorities focus only on spending the surplus on more government and divisive social policies,” Republican Senate Minority Leader Mark Johnson, of East Grand Forks, said in a statement.

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History of this topic

Connecticut lawmakers debate spending remaining COVID-19 funds, forgoing changes to state budget
7 months, 2 weeks ago

Connecticut lawmakers debate spending remaining COVID-19 funds, forgoing changes to state budget

Associated Press  

HARTFORD, Conn. — Facing a Dec. 31 deadline, Connecticut lawmakers were on track Tuesday to approve a Democratic plan to spend at least $360 million in remaining federal COVID-19 pandemic funds on key areas, including higher education, not-for-profit social service agencies, municipal aid and children’s mental health. Republicans in the House and Senate argued the Democrats’ plan sets the state …

Minnesota budget surplus grows slightly to $2.4B. But officials warn of potential trouble ahead
1 year ago

Minnesota budget surplus grows slightly to $2.4B. But officials warn of potential trouble ahead

Associated Press  

ST. PAUL, Minn. — Minnesota’s budget picture remains stable in the near term, with a slightly higher than expected surplus heading into the 2024 legislative session. Budget Commissioner Erin Campbell called it a “significant structural imbalance” and insisted “it is not fair to call it a deficit” because surpluses from previous years will blunt the impact and allow the state …

Minnesota’s budget surplus grows to a projected $2.4 billion, fueling debate over spending
1 year, 2 months ago

Minnesota’s budget surplus grows to a projected $2.4 billion, fueling debate over spending

Associated Press  

ST. PAUL, Minn. — Minnesota’s budget surplus has grown to a projected $2.4 billion, and that’s already fueling the debate over spending and taxes ahead of the 2024 legislative session. A report from Minnesota Management and Budget this week said the state ended its previous two-year budget cycle with a balance around $820 million higher than estimated when the session …

Minnesota Legislature adjourns after passing $72B budget; Democrats celebrate as GOP hits tax hikes
1 year, 7 months ago

Minnesota Legislature adjourns after passing $72B budget; Democrats celebrate as GOP hits tax hikes

Associated Press  

ST. PAUL, Minn. — The Minnesota Legislature put the final touches on a $72 billion state budget and adjourned for the year Monday night as Democrats celebrated enacting an ambitious agenda that ranged from protecting abortion rights, to providing more resources for education, to legalizing marijuana. The big tax bill of the session, which cleared its final test Sunday evening, …

Minnesota taxpayers can expect rebates under $3B bill nearing passage
1 year, 7 months ago

Minnesota taxpayers can expect rebates under $3B bill nearing passage

Associated Press  

ST. PAUL, Minn. — Minnesota taxpayers can expect rebate checks in the next few months and struggling families with children are likely to get additional relief under a $3 billion tax cut bill nearing approval in the Legislature. Democratic Senate Tax Committee Chair Ann Rest, of New Hope, said after House and Senate negotiators unveiled the framework of the bill …

Democrats to wield power when Minnesota Legislature convenes
1 year, 11 months ago

Democrats to wield power when Minnesota Legislature convenes

Associated Press  

ST. PAUL, Minn. — Democrats will control both the House and Senate for the first time in eight years when the Minnesota Legislature convenes Jan. 3, giving them power to decide how to use a $17.6 billion projected budget surplus — and new opportunities to pass liberal initiatives that the outgoing Senate Republican majority had blocked. Democratic lawmakers’ priorities also …

Walz touts opportunities from massive $17.6B budget surplus
2 years ago

Walz touts opportunities from massive $17.6B budget surplus

Associated Press  

ST. PAUL, Minn. — Minnesota lawmakers learned Tuesday they will head into the 2023 legislative session with a massive $17.6 billion projected budget surplus, and Gov. “The golden opportunity that we have to make Minnesota an even better and fairer and more inclusive and more prosperous state is there,” Walz said after the state budget agency released the new forecast. …

Wisconsin’s projected budget surplus grows to $6.6 billion
2 years, 1 month ago

Wisconsin’s projected budget surplus grows to $6.6 billion

Associated Press  

MADISON, Wis. — Wisconsin’s projected state budget surplus is now forecast to hit nearly $6.6 billion by July, up from earlier $5 billion estimates, according to a report released Monday by Gov. The projected surplus does not give Evers a “blank check” as he puts together his budget, the Republican co-chairs of the Legislature’s Joint Finance Committee said in a …

Minnesota budget deals remain elusive near end of session
2 years, 7 months ago

Minnesota budget deals remain elusive near end of session

Associated Press  

ST. PAUL, Minn. — Minnesota lawmakers couldn’t find common ground on several budget bills Friday as the end of their legislative season rapidly approached. Democratic House Speaker Melissa Hortman, of Brooklyn Park, said tax committee chairs have made “fantastic progress” on a $4 billon tax relief bill, echoing Republican Senate Majority Leader Jeremy Miller’s comments Thursday that a deal on …

Already-huge Minnesota budget surplus grows to $9.25 billion
2 years, 9 months ago

Already-huge Minnesota budget surplus grows to $9.25 billion

Associated Press  

ST. PAUL, Minn. — Minnesota’s already-huge budget surplus has become even more enormous, growing to a projected $9.25 billion, the Walz administration announced Monday as they cautioned that inflation and Russia’s invasion of Ukraine pose some significant risks to the optimistic outlook. While MMB Commissioner Jim Showalter told reporters the state is seeing a “significant improvement” in revenues from the …

Minnesota budget officials project huge $7.7 billion surplus
3 years ago

Minnesota budget officials project huge $7.7 billion surplus

Associated Press  

ST. PAUL, Minn. — Minnesota officials will release an updated budget forecast on Tuesday that’s expected to show further improvements and set the stage for the 2022 legislative session. This will be the first major revenue-and-spending forecast since projections from Minnesota Management and Budget in February, when an anticipated $1.3 billion deficit due to the pandemic swung to a $1.6 …

Senate Democrats reach $3.5 trillion budget agreement
3 years, 5 months ago

Senate Democrats reach $3.5 trillion budget agreement

Associated Press  

WASHINGTON — Senate Democrats announced late Tuesday that they’d reached a budget agreement envisioning spending an enormous $3.5 trillion over the coming decade, paving the way for their drive to pour federal resources into climate change, health care and family-service programs sought by President Joe Biden. We’re going to get this done for the sake of making average Americans’ lives …

Deals on most budget bills take shape Minnesota Legislature
3 years, 6 months ago

Deals on most budget bills take shape Minnesota Legislature

Associated Press  

MINNEAPOLIS — The Minnesota Legislature moved forward on several major budget bills Tuesday after leaders broke a standoff on environment funding that could have shut down state parks before the Independence Day holiday weekend. Deals on most of the other budget bills are now coming together, too, including an agreement announced Tuesday on a K-12 education bill that is one …

Minnesota House GOP filibusters in contentious budget debate
3 years, 6 months ago

Minnesota House GOP filibusters in contentious budget debate

Associated Press  

MINNEAPOLIS — The Minnesota House launched into a long, contentious debate Thursday that delayed its first floor votes on the big budget bills that lawmakers were unable to pass before time ran out on the year’s regular session last month. “I think we’re going to have a bumpy ride in the Minnesota House,” Democratic House Speaker Melissa Hortman, of Brooklyn …

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