(KNSI) – Governor Tim Walz released a revised budget that cuts nearly $250 million from earlier drafts.
Walz says the budget is prudent and lays a foundation that will pay off in the years and decades ahead. “This budget is fiscally responsible and prioritizes the programs that will set Minnesotans up for success for generations to come.”
The administration sprinkled in some one-time investments in the near term to offset the cuts in the next biennium. That includes $4 million for the state’s response to avian influenza and money earmarked for law enforcement training.
Walz says the targeted investments and broader cuts were strategic. “By addressing the budget challenges we face today, we’re setting Minnesota up for long-term success and protecting the resources necessary to make Minnesota the best state to live, work, and raise a family.”
Current projections show a roughly $2 billion surplus over the next couple of years. Senior officials say that a focus on preventing fraud in the wake of a series of financial scandals and targeted tax hikes on HMOs and health insurance companies, combined with the reduction in government spending, will help the state avoid a projected deficit in Fiscal Year 2028 and ’29.
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