UPDATE: Minnesota budget surplus to hit $1.5 billion

Updated forecast coming in February.

Posted: Dec 6, 2018 8:50 AM
Updated: Dec 6, 2018 2:40 PM

ST. PAUL, Minn. (AP) — Minnesota will have a $1.5 billion surplus for the next two-year budget period, state officials announced Thursday, setting the stage for a spirited debate over taxes and spending in the legislative session that starts in January.

The healthy surplus gives Democratic Gov.-elect Tim Walz and the Legislature more room for new spending initiatives, tax cuts or some combination of both.

Minnesota Management and Budget projected the surplus for the fiscal period that starts July 1. MMB also said the state's budget reserve has grown to $2 billion, though legislators would have to change current laws to tap any of that.

Walz is due to release his budget outline by Feb. 19. He issued the following statement about this report:

Today, Governor-elect Tim Walz issued the following statement in response to Minnesota Management and Budget’s November Budget Forecast:

“Today’s budget forecast is a testament to the incredible work of Governor Mark Dayton. I am humbled to follow in his footsteps, and I pledge to continue his legacy of fiscal stability.”

“This forecast shows a strong foundation on which we can build One Minnesota. Our recent listening tour made clear that Minnesotans are hungry for a government that puts people before politics. They are ready to find common ground, tackle the challenges in their communities, and build a better life for everyone.”

“Our budget will reflect the priorities of the people of Minnesota. Under my leadership, Minnesota will be the education state. We will work tirelessly to ensure every child, no matter their race or zip code, receives a high-quality education. We will increase access to affordable health care. We will help provide local communities with the tools they need to ensure they aren’t just surviving, they are thriving.”

“I look forward to working across the aisle to further these priorities. Together, we can make One Minnesota a reality.”

The governor and lawmakers will get an updated budget forecast in February that will guide them through the end of the legislative session in May. Democrats took control of the Minnesota House in last month's elections, while Senate Republicans maintained their one-seat majority. The partisan split likely will force lawmakers and the governor to make compromises.

MMB said Minnesota's budget outlook remains sound despite slower growth expected through the budget period, which begins July 1. It said slower economic growth is projected to continue into 2023, resulting in a slowdown in revenue growth, lowering the projected surplus for that period to only $456 million.

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 42281

Reported Deaths: 1540
CountyConfirmedDeaths
Hennepin13568791
Ramsey5256233
Dakota271396
Stearns252319
Anoka2422111
Nobles16886
Washington128341
Olmsted127620
Mower9832
Rice8848
Scott8814
Clay61338
Kandiyohi5931
Blue Earth5752
Wright5395
Carver4942
Todd4032
Sherburne3695
Lyon3442
Freeborn3130
Watonwan2710
Steele2471
Benton2393
St. Louis23516
Nicollet20612
Martin1755
Winona14415
Goodhue1428
Cottonwood1410
Le Sueur1321
Otter Tail1141
Crow Wing11312
Pine1130
Chisago1101
McLeod1030
Dodge970
Carlton940
Polk903
Unassigned8838
Isanti830
Murray820
Chippewa811
Waseca780
Pipestone744
Douglas730
Itasca7112
Becker660
Morrison661
Meeker641
Faribault620
Sibley582
Jackson570
Pennington540
Beltrami530
Brown462
Mille Lacs402
Wabasha390
Renville372
Fillmore360
Rock340
Swift331
Grant320
Houston320
Yellow Medicine310
Roseau280
Redwood250
Wilkin223
Koochiching211
Norman210
Cass192
Lincoln190
Big Stone170
Kanabec171
Wadena170
Aitkin160
Marshall160
Clearwater130
Mahnomen131
Pope130
Stevens110
Hubbard100
Lake90
Traverse60
Lac qui Parle50
Red Lake40
Kittson20
Cook10
Lake of the Woods00

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 35313

Reported Deaths: 751
CountyConfirmedDeaths
Polk7538185
Woodbury334644
Black Hawk251959
Buena Vista173811
Johnson14798
Dallas140931
Linn139983
Marshall110019
Scott108410
Dubuque97823
Story8726
Pottawattamie83513
Wapello71531
Muscatine69345
Crawford6813
Sioux5050
Tama48729
Webster4285
Wright3991
Louisa36713
Jasper35417
Plymouth3525
Warren3331
Cerro Gordo3171
Dickinson3063
Washington2569
Hamilton2021
Boone1721
Clay1501
Clarke1443
Allamakee1384
Clinton1381
Mahaska11917
Shelby1190
Carroll1171
Bremer1167
Poweshiek1138
Franklin1120
Pocahontas1091
Des Moines1022
Emmet970
Cedar961
Henry933
Hardin920
Cherokee851
Marion850
Floyd822
Taylor810
Guthrie784
Monona780
Benton751
Jones721
Butler702
Osceola690
Sac680
Buchanan651
Calhoun652
Iowa631
Jefferson630
Harrison620
Hancock611
Jackson610
Humboldt601
Lyon600
Fayette590
Delaware561
Madison552
Lee542
Mills530
Palo Alto530
Monroe527
Clayton503
Winneshiek500
Grundy470
Mitchell460
Winnebago440
Davis431
Union430
Kossuth420
Howard370
Lucas354
Unassigned350
Chickasaw310
Greene310
Cass300
Worth250
Ida230
Keokuk231
Appanoose223
Page220
Van Buren210
Audubon181
Adair170
Ringgold161
Montgomery152
Decatur130
Fremont110
Wayne110
Adams80
Rochester
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