Minnesota economic forecast shows $1.3 billion surplus rise
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(ABC 6 News) – On Thursday, Minnesotans got the latest look on the state’s budget and economic outlook.
The latest forecast predicts more than a $3.7 billion surplus, which is a $1.3 billion increase since November.
With these latest figures, economic growth is expected to continue through 2027. The increase could be due in part to large corporate tax revenues created by higher-than expected profits.
But things could still change down the line, as spending is projected to exceed tax revenue by 2027.
Minnesota Senator Carla Nelson (R-Rochester) stated in part, “I am deeply troubled by the state’s $1.5 billion structural deficit