Kurt Zellers, CEO of the Minnesota Business Partnership, released the following statement regarding the state economic forecast:
“The state of Minnesota’s economic forecast of a pending $5 billion deficit is critically important information for all Minnesotans. In 2023, legislators spent a record $18 billion surplus and raised an additional $10 billion in new taxes and fees. More than merely enacting a historic state budget increase of nearly 40%, lawmakers and the Governor obligated our citizens with ongoing commitments paid with one-time surpluses. Minnesotans understand that level of spending is unwise and unsustainable.”
Zellers continued: “When the legislative session begins in January, Minnesotans will have a wider spectrum of voices at the table. We call upon Governor Walz and legislative leaders in both parties to unite in true bipartisan collaboration. Passing a responsible budget that meets the needs of Minnesotans in a sustainable way is the course to support. We can hold the line on new taxes and hidden fees. We can create a government workforce that performs exceptionally with more value for the tax dollar, and all of this is necessary if we are to ensure that the state is well positioned to provide Minnesotans with an enviable state to call home today and tomorrow.
“Our members utilize responsible budgeting and wise investments in workforce planning every day, and they win on the global stage because of it. We look forward to working in partnership with legislators and Governor Walz as we all work towards building a responsible budget that benefits all Minnesotans and will help grow Minnesota’s Headquarters Economy.”