Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Budget surplus shrinks by $500 million in new state economic forecast


LEILA NAVIDI • Star Tribune

Gov. Tim Walz, center, with other officials and staff, including Lt. Gov. Peggy Flanagan, at his right, waited to speak at the Department of Revenue building in St. Paul.

The political battle over Minnesota's budget got even more complicated Thursday, as a new economic outlook predicted the state will bring in less money than anticipated in the years ahead.

The state's projected budget surplus shrunk to a little more than $1 billion, down nearly $500 million from a previous estimate late last year. The trend of slower economic growth is expected to continue in the future.


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