Budget forecast projects $188 million deficit
From the
Minnesota Chamber of Commerce:
Today’s economic forecast projects a $188 million deficit for the state treasury for the remainder of the biennium that began July 1, 2017. $114 million in funding for the Legislature’s operating budget was line-item vetoed by Governor Dayton, which increases the shortfall to $304 million.
The forecast says unknowns in federal policy changes and concerns over the current economic expansion, one of the longest in U.S. history, create significant risk. It should be noted that the forecast does not include passage of any federal tax reform, which would be expected to boost GDP growth in 2018 and beyond and includes federal funding for health programs.
