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.

Cases: 549830

Reported Deaths: 7067
CountyCasesDeaths
Hennepin1145171675
Ramsey47380851
Dakota42007420
Anoka38065415
Washington24723273
Stearns20819218
St. Louis16620297
Scott15798117
Wright14643125
Olmsted1268297
Sherburne1046080
Carver970145
Clay777389
Rice7554101
Blue Earth690640
Kandiyohi623979
Crow Wing607986
Chisago543749
Otter Tail539373
Benton526097
Mower449532
Douglas438970
Goodhue438271
Winona437249
Nobles398748
Morrison391159
McLeod387854
Beltrami370557
Isanti370359
Itasca366052
Polk362467
Steele357714
Becker350248
Lyon346748
Carlton327052
Freeborn325029
Pine309221
Nicollet304142
Brown293139
Mille Lacs277350
Le Sueur268022
Todd267230
Cass247426
Meeker232737
Waseca229520
Martin211529
Wabasha19913
Roseau195518
Hubbard170541
Dodge17033
Renville169743
Redwood165435
Houston162114
Cottonwood155320
Fillmore15149
Pennington149519
Chippewa144636
Faribault142919
Wadena142721
Sibley134910
Aitkin127836
Kanabec127621
Watonwan12529
Rock121719
Jackson115910
Yellow Medicine110119
Pipestone109125
Murray10209
Pope10146
Swift98618
Marshall85317
Stevens80510
Lake78019
Clearwater76614
Wilkin76512
Koochiching76212
Lac qui Parle73422
Big Stone5594
Lincoln5572
Grant5438
Norman5209
Mahnomen4948
Unassigned48278
Kittson46222
Red Lake3857
Traverse3595
Lake of the Woods2993
Cook1440

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 356912

Reported Deaths: 5810
CountyCasesDeaths
Polk55819602
Linn20248329
Scott18949234
Black Hawk15517306
Woodbury14872220
Johnson1397781
Dubuque13115202
Dallas1087696
Pottawattamie10703162
Story1028547
Warren553586
Clinton536490
Cerro Gordo521186
Webster507991
Sioux505073
Marshall476874
Muscatine457896
Des Moines440665
Wapello4250120
Buena Vista421440
Jasper407670
Plymouth396779
Lee367755
Marion354375
Jones292955
Henry285937
Carroll279050
Bremer278960
Crawford262039
Boone257833
Benton249655
Washington249249
Dickinson240643
Mahaska224049
Jackson217842
Kossuth212362
Clay209825
Tama206571
Delaware202539
Winneshiek193933
Page190320
Buchanan188231
Cedar183423
Fayette182841
Wright180135
Hardin179242
Hamilton177949
Harrison175373
Clayton166655
Butler162434
Mills158020
Cherokee156738
Floyd155242
Lyon154341
Madison153519
Poweshiek152433
Allamakee149051
Iowa145324
Hancock143334
Winnebago135831
Grundy135032
Cass134354
Calhoun133111
Jefferson130535
Emmet128340
Shelby127337
Sac126819
Appanoose126647
Louisa126549
Mitchell125241
Union124032
Chickasaw122515
Humboldt118126
Guthrie117729
Franklin112521
Palo Alto110421
Howard102822
Montgomery100237
Unassigned10020
Clarke98023
Keokuk94430
Monroe93528
Ida89433
Adair84332
Pocahontas83321
Monona80930
Davis79924
Greene76410
Osceola75016
Lucas74922
Worth7078
Taylor65112
Fremont61210
Decatur5899
Van Buren55518
Ringgold53423
Wayne51923
Audubon4949
Adams3284
Rochester/St. Mary'S
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Slight warm up into the weekend
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