Good News: Minnesota Looking At Smaller Gap In Budget (Audio)
Good news out of St. Paul on Thursday: Minnesota’s projected budget deficit for the next biennium fell 42.5 percent from November’s estimate, meaning the state will need less in tax increases or spending cuts to balance the budget.
The new projected budget deficit for fiscal years 2014-15 is $627 million, Minnesota Management & Budget Commissioner Jim Schowalter said in a statement Thursday.
That’s down from November’s estimate of $1.09 billion and is an improvement of $463 million.
Speaker of the House Paul Thissen commented: