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

New Minnesota budget projection: $2.4 billion deficit


Glen Stubbe – Star Tribune

Gov. Tim Walz headed to speak Tuesday after Management and Budget Commissioner Myron Frans' remarks on the state's budget projection

The state's budget outlook crumbled from a $1.5 billion surplus to a projected $2.4 billion deficit in just two months, as the COVID-19 pandemic eats up tax revenue and Minnesota leaders accelerate spending to respond.

Tuesday's budget projection is the first estimate of just how deep a financial hole Minnesota could face. Budget officials predicted state revenue would be $3.6 billion less than anticipated and spending would be $391 million higher, including additional money the Legislature approved since February.


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