Boring but Important: Adjusting the Budget Forecast to InflationI've co-authored a bill that is rather boring but very important: HF 35, a bill to factor inflation into our state's budget forecast. Economic forecasts from Minnesota Management and Budget are a key tool for legislators as we set the state’s budget. Unfortunately, they are not allowed to factor inflation into their forecast. This is because of a law originally enacted during the Jesse Ventura era, and I view it as an irresponsible political gimmick. It causes a problem by making our future budget estimate look better than it really is. HF 35 fixes that. Factoring inflation into the forecast will give us less rosy, but more accurate, information to better empower our ability to make responsible budget decisions. Our bill is headed to the House floor, and I am working to pass it quickly so that it will apply to the upcoming February forecast. You can read more about it here. Please Ask Questions and Share FeedbackAgain, I really loved hearing from so many folks last week. Please keep the replies coming. I am always bragging to my colleagues that I have the most engaged constituents in the state, and you continue to prove me right! You can reach me at rep.dan.wolgamott@house.mn.gov or 651-296-6612. You are my boss and I work for you, so always feel free to get in touch and let me know how I can best serve you and your family. Have a wonderful weekend! Sincerely, Rep. Dan Wolgamott Speaker Pro Tempore District 14B |