MINNEAPOLIS, MN – Last week’s forecast raises red flags and prompts serious questions about a potential deficit in the upcoming biennium starting in July 2025.
The fact that earlier this year, despite a record $17.5 billion surplus, Minnesota Democrats, under one-party rule, raised taxes by an astounding $10 billion and escalated state spending by 40 percent. This mismanagement of resources and reckless spending puts our state on a precarious path toward a looming budget deficit.
Minnesota had a unique opportunity to address our citizens’ economic challenges, offering meaningful tax relief and making lives more affordable. Unfortunately, Minnesota Democrats squandered, and now the consequences are becoming evident.
We need balance in St. Paul to steer our state back in the right direction and a renewed approach that prioritizes fiscal responsibility and addresses the economic well-being of every Minnesotan.