By: Nick Wicker
Minnesota will have about a $1 billion surplus for the 2016-17 biennial budget, according to a forecast released Thursday by the Minnesota Management and Budget office. The report also predicted a $373 million surplus for the upcoming 2014-15 biennium.
The surplus, which doesn’t account for inflation, is the result of an increase in tax revenues and a drop in spending, said MMB Legislative and Communications Director John Pollard.