Revenue forecast set for Dec. 1

Minnesota Management and Budget announced today that Minnesota’s next revenue forecast will be released on Dec. 1.

The forecast gauges the state’s tax collections and spending obligations. It also gives a good sense on the state’s current and future economic conditions.

Gov. Dayton and the GOP controlled Legislature enacted a two-year budget into law in July. The next forecast gives them a blueprint as to how the state’s budget stays in balance through the biennium.

No one is expecting good news. State Economist Tom Stinson told MPR News in October that

“It’s going to be difficult, maybe even impossible, for us to not have a shortfall in November,” Stinson said.

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