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Hudson: Projected shortfall shows state on unsustainable spending path

Thursday, February 29, 2024


ST. PAUL – State officials 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. Walter Hudson, R-Albertville, said the forecast figures clearly indicate a more balanced approach is needed in St. Paul.

“What we’re seeing from Democrats is a textbook example of how to run a state – and its taxpayers – into the ground,” Hudson said. “Once Democrats gained full control of the Capitol, they chucked overboard all the promises they made to Minnesotans, from eliminating the state tax on Social Security to providing $2,000 rebate checks, and instead focused on catering to an extreme agenda.

“Democrats had the luxury of a $17.5 billion surplus, but spent that away and still raised taxes by $10 billion in order to increase government spending by 40 percent. What Democrats may fail to recognize is Minnesotans will remember their egregious recklessness and more balance at the Capitol will result.”

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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