ST. PAUL, MN – Minnesota’s latest budget forecast released this morning shows a worsening financial outlook, with a projected $6 billion deficit by Fiscal Year 2028-29. The state’s FY 2026-27 projected balance has also declined to $456 million, $160 million lower than prior estimates, as spending growth continues to outpace revenues.
Rep. Andrew Myers (R-Tonka Bay) expressed concerns about the long-term sustainability of the state’s budget, emphasizing the need for greater financial discipline and a focus on Minnesotans' priorities.
"A lack of self-control over the past two years at the state legislature has put Minnesota on the fiscal edge—one that could have real consequences for schools, vital infrastructure, essential services, and family budgets," said Myers. "When the legislature makes budget decisions, we need to listen to and learn from Minnesotans about what truly matters rather than overcommitting resources without a clear plan for the future."
The budget forecast reflects both economic uncertainty and policy choices that have accelerated spending beyond revenue growth. Myers stressed that moving forward, the legislature must prioritize sustainable solutions that protect core services without increasing burdens on our families, cities, schools, and businesses.
"Minnesotans expect their public servants to show some humility in our spending and that didn’t occur during the 2023-2024 legislative session," Myers continued. "We need to prioritize smarter investments and ensure we are making good decisions for all Minnesotans.”
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