Minn. general fund revenues $46M below forecast
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
The latest economic update provided by Minnesota Management and Budget says lower than expected individual income tax receipts and sales tax receipts mean that the state collected $46 million less than expected in February and March.
The update also said forecasters don't expect a quick turnaround for the nation's economy, but found that the federal stimulus has given them reason to hope that steep slide will come to a close. But that doesn't mean the economy will bounce back to 2007 levels anytime soon.
The update said the economy isn't expected to return to pre-recession levels until 2011, and the job market won't return to 2007 levels until 2013.
The new figures won't force Gov. Pawlenty and state lawmakers to redraft their budget plans. They are working off a March report that forecasts a $4.6 billion budget deficit over the next two years.
Turn Up Your Support
MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all.
Dear reader,
Your voice matters. And we want to hear it.
Will you help shape the future of Minnesota Public Radio by taking our short Listener Survey?
It only takes a few minutes, and your input helps us serve you better—whether it’s news, culture, or the conversations that matter most to Minnesotans.
