Minnesota Budget Outlook

SOURCE www.foxnews.com
Minnesota's budget outlook has improved with a bigger surplus forecast for the current budget, giving the Legislature more breathing room. Corporate tax revenues are up, and a smaller potential deficit is projected for the next two-year budget.

Key Points

  • Surplus of over $3.7 billion in the current budget
  • Corporate tax revenues showing significant gains
  • Smaller potential deficit of $1.5 billion projected for the next two-year budget

Pros

  • Improved budget outlook with a surplus of over $3.7 billion
  • Higher tax collections and corporate profits contributing to surplus
  • Smaller potential deficit projected for the next two-year budget

Cons

  • Spending still projected to exceed revenue, but by a reduced amount