From the MN Rural Broadband Coalition…
State Projects $1.6 Billion Surplus
Saint Paul, Minn.—Minnesota Management and Budget (MMB) predicted the state will have a $1.6 billion surplus in 2022-2023. The state agency said, “Minnesota’s budget outlook is significantly better for this biennium and the next due to an improved U.S. economic outlook that is bolstered by large federal actions that have emerged since November.” This is most welcome news after a similar projection in December showed a $1.3 billion deficit. The massive surplus gives legislators more flexibility in crafting the state’s budget, which needs to be completed by May 17th. Leaders in both parties took the opportunity to advance their visions for how the state should proceed.
The best news of the day is that a large surplus makes it more likely that there will be room for broadband funding. We’ve requested legislators invest $120 million over the next two years in our state grant program. A letter to legislative leaders and the Governor about the surplus and broadband funding is forthcoming.