DFL Leadership Touts Improved Budget Forecast, Promises Local Investment

(KNSI) – DFL leadership in St. Paul is highlighting the new state budget forecasts revealed today.

Speaker Melissa Hortman says the increased surplus shows the party’s agenda is paying off. “Broader economic indicators remain strong, and corporate profits are still soaring.”

The budget surplus is now expected to be $3.7 billion in 2024, over a billion dollars higher than what was forecasted in late 2023. The Office of Management and Budget says surpluses should continue until Fiscal Year 2026.

Hortman promises to wisely spend the money to help bring down costs for childcare, health care, and housing. Infrastructure will be the true focus for legislators, though.

“The main focus of our work in the ’24 session will be a capital investment bill. There are communities all over the state of Minnesota in need of local road improvement, bridge improvement, wastewater infrastructure, and the budget forecast says that we have the opportunity to do decent investments in our communities across the state.”

St. Cloud area representative Dan Wolgamott is promising to prioritize central Minnesota in the upcoming bonding bill. “We must continue managing our state’s finances in an effective, responsible manner while being responsive to communities across the state by investing in a local jobs and projects package. Now is the time to pass a bonding bill that brings a medical school to Central Minnesota, revitalizes downtown St. Cloud, and updates the Herb Brooks National Hockey Center.”

The Office of Management and Budget says surpluses should continue until Fiscal Year 2026.

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