Why Minnesota could soon face a budget shortfall

The good news delivered by Minnesota leaders Wednesday is that the state projects a $2.4 billion surplus for the two-year budget cycle that began in July.

Then came the bad news: Lawmakers might not get to spend it, a disappointing revelation for constituencies who are amassing legislative wish-lists.

How could that be? The surplus will be consumed in the coming years by rising costs of state services, such as long-term care for people with disabilities and free school meals for everyone. If lawmakers spend the surplus elsewhere, state officials said, Minnesota could face a $2.3 billion shortfall starting in July 2025.

https://www.startribune.com/why-minnesota-could-soon-face-a-budget-shortfall/600325616/