The budget is the biggest item on the agenda for my colleagues in both the Senate and the House this year. Entering the third month of the 2019 Legislative Session, we have a clearer picture of our state’s economic outlook with the updated February Forecast we received on Feb. 28.
According to the Minnesota Management and Budget office, the state has a positive budget balance of just over $1 billion, a balance that has decreased $492 million since November. On the one hand, our economy continues to do well; but on the other hand, this decrease, and the potential for a future economic downturn, is concerning. It’s up to us to balance the need for forward-thinking investment in our priorities and responsible stewardship of taxpayer dollars. We cannot jeopardize the long-term health of the state’s finances with short-term decisions.