Budget Forecast Up
Given inflation at home and tension abroad, it’s somewhat a surprise that the budget forecast for Minnesota’s immediate future improved by $1.5 billion. Added to the November forecast projected surplus of $7.7 billion, the projected surplus now sits at approximately $9.3 billion. The increased projection is a result of both increased tax collections across the income, sales, and corporate categories and less than projected spending. The largest budget category where spending decreased is E-12 education,