Minnesota’s budget outlook improves

By: Michelle Griffith, Alyssa Chen

Outlets: Minnesota Reformer

Published: February 27, 2026

Words: 1,285

Last Updated: 5 days, 15 hours ago

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Minnesota budget officials announced Friday that Minnesota is sitting on a $3.7 billion surplus through June 2027 — a 48% increase from the $2.5 billion estimate in November.

But spending is expected to continue to outpace revenue in the next few years, creating a $3.3 billion structural imbalance in the next two-year budget cycle, beginning in July 2027. If lawmakers propose no new spending increases, the surplus will cover the structural imbalance.

Minnesota still has …

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