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Legislative Update - Minnesota’s Economic Outlook

Friday, March 1, 2024
Howard Banner

Dear Neighbors, 

This week’s economic forecast gave us some good news and helpful guidance about how the legislature can continue to make Minnesota a better place. A few takeaways: 

  1. Minnesota's economic outlook has improved and our budget surplus has grown. The balanced budget Democrats passed last year is working and our economy is getting better. The corporate special interests that told us the "sky would fall" have decisively been proven wrong.
  2. Minnesota’s economy is improving, but for most Minnesotans the everyday costs of housing, child care, and essentials are squeezing family budgets. Meanwhile, corporate profits continue to soar. We still have so much work to do to fight back against corporate greed and rebalance our economy so Minnesota workers and families are getting a fair shake.
  3. Last session, the legislature took direct action to ease the financial burden on Minnesota families - free school lunches, child care and housing assistance, middle class tax cuts - all will make a difference. This forecast underscores our need to continue down this path.
  4. If Republicans get the chance, they will hand the keys to our economy to corporate special interests. Their rhetoric makes clear they would roll back things like paid family and medical leave, and a multitude of other ways that Democrats have put people over corporate profits. We can't let that happen.

So with wind at our back, let's keep our foot on the gas to make more progress with and for Minnesota families.


2024 Tax Changes

Big reasons why Minnesota’s economy is currently on the right path are the tax laws we put in place last year. Minnesota’s tax system is the most equitable among US states, and several new credits, refunds, and exemptions are now available this tax season. 

2024 taxes

You can find more information and resources at the Minnesota Department of Revenue


MPCA Small Business Environmental Loan Program

Richfield and Minneapolis businesses looking to reduce on-site air emissions, clean up contamination, or generate less waste can now apply for the MPCA Small Business Environmental Loan program. The program offers zero-interest loans up to $75,000 to tackle these high-impact projects. You can learn more and apply here.

MPCA Loans


Stay Connected

As the legislative session begins to take shape, now is the best time to reach out with any questions, comments, concerns, or ideas you have for our work in the Minnesota House. Always feel free to email me at or give my office a call at 651-296-7158.

You can also stay up to date by following my official Facebook page, subscribing to these regular email updates if you haven’t already, and checking my legislative webpage for the latest information from my office. 

In partnership, 


Michael Howard