Minnesota Tax Collections Nearly $100M Below Projections

ST. PAUL, Minn. (AP) — Minnesota’s fiscal year is off to a rocky start as state government revenues slip below projections.

State budget officials announced Monday that tax collections were $97 million below their projections in the first three months of the fiscal year that began in July. That’s a 2.1 percent miss compared to the state’s budget.

Minnesota officials and legislative leaders have warned that the state’s economic outlook isn’t as rosy after several years of growth. On the bright side, the state left a big chunk of cash on its bottom line and has built up a hefty budget reserve.

The Legislature will be charged with passing a new, two-year budget when lawmakers return in early January.

(© Copyright 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. Randall C says:

    weren’t we supposed to have some surplus or did the democrats already spend it? well i guess they’ll just raise taxes on smokers again lol

    1. Mike Coxin says:

      Like your idea Rand. The tax on cigs should be ten bucks a pack. Great idea!

  2. TRUMP 2016! says:

    Oh liberals and your predictions!

    Liberal, the only word that truly describes epic failure!

  3. You can’t blame the average Jane or Joe. The DFL likes to line their own $$$ pockets!

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