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Anderson: State forecast shows shortfall on horizon

Friday, March 1, 2024


ST. PAUL – The state issued a new economic forecast for Minnesota Thursday, with a looming $1.5 billion shortfall through 2027 overshadowing a $3.715 billion surplus for the current biennium.

State Rep. Paul Anderson, R-Starbuck, said the forecast figures clearly indicate a more balanced approach is needed in St. Paul.

“This state budget report reiterates how one-party control in St. Paul has led our state on an unaffordable path, draining our historic $17.5 billion surplus and putting our state on track for a shortfall despite raising taxes by $10 billion,” Anderson said. “Not only that, but our one-party control has failed to live up to promises to fully eliminate the state tax on Social Security, provide $2,000 rebate checks and completely fix the errors they made in last year’s tax bill. We need more balance at the Capitol to clean up this mess and stabilize our state budget.”

The state is fully funded for the current two-year cycle, meaning no additional state spending is necessary this session. The new bottom line will guide legislators through supplemental fiscal considerations the rest of the 2024 session.


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