Statement from Governor Walz on November 2019 State Budget Forecast
Statement
Today, Minnesota Management and Budget released the State of Minnesota November Budget and Economic Forecast , showing a forecast surplus of $1.332 billion in the FY 2020-21 biennium.
Governor Tim Walz issued the following statement after this announcement.
"This budget forecast is good economic news for Minnesota. And the people of Minnesota have themselves to thank for that. For living here, raising their families here, and contributing to the state's economy."
"Minnesota's economy is working because Minnesotans are working."
"Minnesota's economy is also working because we have made smart budgeting decisions. We have been disciplined, kept our eye on the long-term, and invested in the things that make our state grow."
"Last session, we invested in our children's education. We protected Minnesotans' access to affordable health care. And for the first time in nearly 20 years, we gave more than 1 million middle class Minnesotans a tax rate cut."
"Clearly, this responsible approach to budgeting works. We are in a healthy economic position and we must protect it."
"We must think toward the future. We must ensure Minnesota is in the best position possible to weather whatever economic uncertainties may come our way. We must budget for the next generation."
"That means exercising caution and continuing to protect our fiscal stability."
"That means paying back the budget reserve."
"That means continuing to drive the economy and protecting our state's infrastructure by passing a robust bonding bill."
"And it means making intentional, strategic investments to ensure we are creating opportunity for all Minnesotans--especially those who feel left behind from the state's strong economy. Whether that's farmers who are struggling to make ends meet, neighbors who don't have a place to sleep at night, or businesses who can't find the workers they need."
"Because One Minnesota means everyone has the opportunity to thrive."
"To do this, as Minnesotans who are heading out on the ice this winter to play hockey know: you don't go to where the puck is, you go to where the puck is going to be."
"I look forward to working together with the legislature this session to get there. By working together to provide stability, we can continue to make Minnesota a great place to live and raise kids."
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