ST, PAUL, Minn. – The state budget for the coming two years will be $52 billion, per an agreement worked out between Governor Tim Walz and Senate and House leadership. Walz said he and Senate leader Paul Gazelka and House leader Melissa Hortman labored into the night, until 12:15 a.m., to agree on the spending plan. The budget is balanced without increasing taxes. At $52 billion, the plan is slightly kess than the original $52.4 billion that Walz proposed in January. It is 8% more than the $48 billion budget that the Legislature approved in 2019 for the current biennium. Some details remain to be worked out over the next month within the agreed-to $52 billion parameter. The final package will up for a final legislative approval in mid-June.
Walz. No new taxes.