Minnesota $7.7 billion budget surplus

Minnesota $7.7 billion budget surplus

Minnesota $7.7 billion budget surplus.

Just yesterday, it was announced yesterday that Minnesota is projected to have a historic $7.7 billion budget surplus. This was the results of growth in income, consumer spending and corporate profits.

How will this affect you?

The lines are being drawn on how we manage this windfall.

The Republicans to repay Minnesota’s debt to the federal government unemployment insurance payments and to restore the state’s unemployment insurance trust fund. They are also discussing increasing our state’s reserves to $2.6 billion. There is also talk of reducing the taxes charged to Minnesota residents since we pay almost the highest state income taxes in the nation.

The democrats are discussing increasing spending on schools, daycare, health care assistance, create family leave for workers, lowering the cost of energy, paid family and medical leave and improve childcare.

Any way you look at it Minnesota is collecting more money from Minnesotans than it needs. Hopefully, our political parties will work together to decide the right approach for the health and well-being of our state and citizens.

I hope the blog on this subject was helpful.


Please reach out to me if you have questions about housing in Minnesota at 612-386-8600.


Look for more articles and videos in the future on various aspects of real estate and our state of Minnesota.

Real estate is a wonderful investment!


Jeff Anderson

The Anderson Team


RE/MAX Results




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