Friday’s Economic Forecast Will Set the Tone for House Budget Bills

Friday’s Economic Forecast Will Set the Tone for House Budget Bills

February 25, 2021 News -- KRJB-KRJM-KKCQ 0

St. Paul, MN — This Friday, the Minnesota Department of Management and Budget will release its most up-to-date budget and economic forecast. The most recent forecast released in November showed a better-than-expected budget surplus of $636 million for the current biennium, but still $1.2 billion deficit for the 2022-2023 biennium. There is hope that this Friday’s forecast will continue to show signs of economic improvement. Representative Paul Marquart says whatever those numbers are will have influence on the House’s budget bill proposal.

Coming to an agreement on a budget will again be a challenge for the divided Minnesota legislature, which is the only divided legislature in the nation. Marquart says there is going to need to be some compromise on a few key items to come to an agreement.

Representative Marquart joins the KRJB Kaleidoscope Program each Friday at 9am to provide updates from the Minnesota legislature.