Minnesota’s Budget Forecast Released
On Friday, the office of Minnesota Management and Budget (MMB) released the annual February economic forecast. The report, which details the state’s budget picture, projects a surplus of $1.6 billion for the 2022-23 budget cycle. This is positive news and is an increase of $2.9 billion from the deficit projected in the November forecast.
This is positive news; Minnesota is in a better financial position than we expected just a couple of months ago. Still, Minnesota must be cautious and exercise restraint. Our economy is still struggling, and our financial future down the line remains unclear. Even though the state’s budget picture is better than we expected, we can’t lose sight of the fact that too many Minnesotans are living on the brink of an economic disaster as the result of COVID. As the legislature works to craft our two-year budget, the economic stability of businesses and families must remain the focus.
Find more information on the state’s budget forecast here.
The Senate and House Energy Committees Meet Jointly to Examine Recent Spike in Natural Gas Prices
The House Climate and Energy Finance and Policy Committee and the Senate Energy and Utilities Finance and Policy Committee held a joint hearing to examine how a nationwide spike in natural gas prices may impact Minnesotans.
The demand for natural gas increased significantly last week due to a cold wave in the southern United States. As a result, the cost of natural gas skyrocketed. Costs climbed even higher when the unwinterized infrastructure in Texas and other states froze, reducing the supply of natural gas.
While Minnesota’s infrastructure held up well during this period despite subzero temperatures, most of the state’s utilities had to purchase a portion of their gas at a much higher price than anticipated. We don’t know entirely yet how this storm will impact Minnesota’s energy market. My priority is ensuring Minnesota families and businesses don’t see an unmanageable spike in their energy bills, along with ensuring our state’s energy demands are met. In the coming weeks.
More information, including documents from the hearing, is available on the Senate committee’s webpage. Video of the hearing will be available on the Senate Media Services’ YouTube channel.
Update on Covid-19
Minnesota outlines a timeline for Covid-19 vaccination expansion
For more information Who is getting vaccinated.
Zoom Meetings
My meetings with constituents and advocacy groups look different this session. I am fortunate to be able to meet with folks via zoom. Here is a shortlist of meetings I had last week.
- Southeast Libraries Cooperating (SELCO)
- Disability Advocacy Day at the Capitol
- Coalition of Utility Cities
- Lumen Technologies
- Epilepsy Advocacy Day
- Office of Economic Status of Women
- Office of Enterprise Sustainability
- UMR Chancellor Lori Carrel
- Olmsted County and City of Rochester officials
In Local News
From the Dodge Co. Independent:
Former KM Principal retires, turns school bus driver
Area Schools returning to in-person learning
Kasson Postmaster enjoys people he meets