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Balancing the Budget – Senator John Marty
Posted
March 24, 2025
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106
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March 24, 2025
106
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10:58Now PlayingMinnesota Management and Budget’s (MMB) latest financial forecast for the state is out. It shows that the gap between Minnesota’s revenues and expenses is growing, and that’s only part of the problem. The projected balance at the end of fiscal years (FY) 26-27 is now $456 million, which is $160 million less than MMB’s previous estimates. That means the state will have less money to carry over into FY 28-29, where a deficit of just under $6 billion is forecasted. Meanwhile, changes to federal funding structures, markets and other uncertainties are expected to have a big impact on Minnesota’s budget as well. Senator John Marty, DFL-Roseville, is chair of the Senate Finance Committee and is working to balance the budget now. He says Minnesotan values are being kept at the forefront during these discussions. I think either has to be Senate Finance Committee for uppercase or lower case if you use Senate's finance committee
Watch MMB’s February forecast presentation here
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