(ST. PAUL, MN) – Today Senate Republicans released a letter to Minnesota Management and Budget (MMB) Commissioner Myron Frans asking him to keep his promise to conduct an August budget forecast. The effects of the coronavirus on the state’s economy have already been tentatively projected to be a nearly $5 billion deficit in FY 2022-23.
“We are requesting that you honor your commitment to prepare an August Forecast this year,” the letter states. “Without this information, we will be working off the outdated and incomplete information that was provided at the May Budget Projection.”
Last week, MMB released a rough projection using data from April that showed a $4.7 billion-dollar deficit to the state’s $48 billion budget.
“This isn’t just about legislators; the public deserves to know the state’s budget situation,” said Senate Finance Chair Julie Rosen (R- Vernon Center). “Going from $1.5 billion in surplus to nearly $5 billion in deficit has serious consequences. We have to be ready on day one when we come back to a regular session to deal with the budget. Commissioner Frans needs to keep his word to provide an accurate and complete forecast in August, and not wait until the November forecast.”