State Budget Forecast / Surplus Spending Proposals

State budget officials announced Monday, February 27, that Minnesota’s economic outlook appears to be stable. Despite the inclusion of inflationary calculations due to a new law, the state continues to have a projected $17.5 billion budget surplus, available to lawmakers as they craft the state’s next two-year budget. Jim Schowalter, Commissioner of Minnesota Management and Budget, and Dr. Laura Kalambokidis, Minnesota's State Economist, join Capitol Report moderator Shannon Loehrke to provide details and context on the forecast and the economy. 

As deadlines loom, lawmakers are rolling out proposals that would rely on funding from the $17.5 billion dollar surplus.  Also in the program are highlights from a GOP tax relief proposal, a DFL plan for free college tuition, a GOP effort to improve student literacy and a DFL initiative to provide more affordable housing and reduce homelessness.