[ST. PAUL, MN] – Governor Tim Walz released the following statement on the State of Minnesota’s November Budget and Economic Forecast issued today by Minnesota Management and Budget:

“Today’s news is proof that Minnesota’s economy is strong and growing. One thing is clear: this surplus is a result of the students, small businesses, and working families whose hard work and creativity make our economy one of the most resilient and diverse in the country,” said Governor Tim Walz. “The case for sending money back to Minnesotans to help with rising costs has never been stronger. Together, we have a golden opportunity to do that while also investing in our workforce, our schools, and our kids – all while lowering costs for our middle-class families, small businesses, and seniors.”

A general fund budget surplus of $17.6 billion is now projected for the fiscal year 2024-25 biennium. More information is available through Minnesota Management and Budget .