ST. PAUL, Minn.—The new state government budget forecast sees continued slippage in the state’s budget surplus and eventually deficits. Erin Campbell, the state budget commissioner, said the surplus of $6 billion has shrunk to $465 million. Campbell noted gloomily that there are more troubling variables ahead than usual. She pointed to the Trump tariff wars that could goose inflation and put consumer spending into a tailspin. Farm export markets, essential in the Minnesota economy, could dry up. Legislators were listening carefully. In the next few weeks they will be making adjustments in tax policy and spenijng priorities for the next biennium. Long term, Cambell said, there could be a $6 billion shortall by 2029.
Campbell. Her 102-page report is a “must read” at Capitol.