ST. PAUL, Minn. – The state budget surplus is at $2.4 billion, according to the new state projections based on October data. This is up from $1.6 billion in May – but still way down from the record $17.5 billion surplus before the so-called Walz Checks were authorized to taxpayers as rebates. Despite the post-Walz Checks rebound to $2.4 billion, the state Budget Office sees shrinkage ahead. Projected spending on health and human services and education in the coming biennium will outpace revenue, even though revenue will be growing too.
