MINNESOTA – Governor Tim Walz says Minnesota is in a good position to create a responsible, bipartisan budget that addresses concerns about future spending and revenue.
The governor and other elected leaders spoke after the Minnesota Department of Management and Budget released its latest budget forecast.
The state will still have a $616 million surplus heading into next year, but could have a $5 billion budget deficit by the 2028 fiscal year.
In 2023, the Office of Management and Budget projected a record surplus of $17.5 billion.
Walz said Minnesota will not compromise its values and will make sure the state takes care of its own, though that comes at a cost.
Republican leaders accused Democrats of out-of-control spending and called for changes to prevent deficits in future years.
