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Surplus in Minnesota Budget

Minnesota budget officials today announced that the state is on track to bring in $7.7 billion more than it planned for in the current budget thanks to growth in income, strong consumer spending and corporate profits. The unprecedented amount immediately kicked off debates over where the funds should be spent in the coming legislative session and promised to become a central theme of the 2022 election cycle. That figure didn’t include billions of dollars in additional federal funding for COVID-19 relief or infrastructure projects in Minnesota.