The Potluck

Minnesota budget surplus grows to $1.5 billion

By: - February 27, 2020 9:32 am

Minnesota’s projected budget surplus grew modestly, rising to $1.5 billion, state budget officials said Thursday.

The twice-yearly budget and economic forecast is sure to touch off fresh debate among lawmakers who are deciding how to spend the anticipated budget surplus, which previously stood at $1.3 billion.

The Minnesota Management and Budget office said in a statement that the economic outlook for the state remains stable but forecasts an economic slowdown.

DFL Gov. Tim Walz and legislative leaders are expected to give their takes on the forecast Thursday and outline how the fresh budget figures will affect their spending priorities.

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Ricardo Lopez
Ricardo Lopez

Ricardo Lopez was a senior political reporter for the Reformer. Ricardo is not new to Minnesota politics, previously reporting on the Dayton administration and statehouse for The Star Tribune from 2014 to 2017, and the Republican National Convention in 2016. Previously, he was a staff writer at The Los Angeles Times covering the California economy. He's a Las Vegas native who has adopted Minnesota as his home state. In his spare time, he likes to run, cook and volunteer with Save-a-Bull, a Minneapolis dog rescue group.