Assessing Minnesota's November 2020 Budget and Economic Forecast

State budget leaders released the November Budget and Economic Forecast Tuesday, December 1, which sets a baseline for budget planning in the coming legislative session.  The latest numbers show a projected surplus of $641 million dollars for the biennium that ends in June and a projected deficit of about $1.3 billion dollars for the FY2022-2023 biennium.  

Jim Schowalter, Commissioner of Minnesota Management and Budget, and Dr. Laura Kalambokidis, Minnesota State Economist, join Capitol Report moderator Shannon Loehrke to offer further analysis of the improved outlook and how Minnesota's economy is faring in the midst of the COVID-19 pandemic.  Plus, highlights of the responses from Governor Tim Walz and legislative leaders to the latest economic projections.