St. Paul, MN - Today, Minnesota Management and Budget (MMB) announced the state’s budget forecast, projecting a $7.7 billion positive fund balance. In addition to depicting a strong economy, the forecast also shows the state’s capacity to bond up to $3.5 billion, enabling the possibility of a robust Capital Investment Bill.
State Representative Fue Lee (DFL - Minneapolis), Chair of the House Capital Investment Committee, released the following statement on today’s state budget forecast:
“Today’s forecast is good news for Minnesotans, not only for the signs of a strong economy, but for the once in a century opportunity we now have to invest in Minnesota’s critical infrastructure. With the state’s AAA bond rating, historically low interest rates, and the responsibility to match the funds from the federal Infrastructure Investment and Jobs Act, we have the ability and duty next session to deliver a robust Capital Investment Bill that rises to this unique moment and meets the immense needs of communities throughout the state.”