ST. PAUL, MINN. – Minnesota lawmakers find out Tuesday what is expected to be bad news when state officials release a special economic forecast prompted by the COVID-19 crisis.
The last budget forecast in late February predicted a one-and-a-half-billion-dollar state budget surplus. But Management and Budget Commissioner Myron Frans said he now “can’t imagine we’re not in a deficit situation.”
Around 600-thousand Minnesotans have applied for unemployment insurance, placing a substantial burden on the state budget at a time while tax collections shrink, and the state spends hundreds of millions on emergency measures.
Comments