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2023-24 session outcomes: Budget and spending

budget


At the beginning of the 2023 session, lawmakers had a nearly $18 billion budget surplus. This historic budget position could have provided relief for job creators and fuel the growth of Minnesota’s economy. Instead, a majority of this sum was promised to spending increases. The general fund budget increased $19.3 billion for 2024/25. That’s an increase of 37% and will put the state in a structural deficit for fiscal years 2026/27.

 

WATCH: 2023 Statewide Policy Tour discussion on the budget

 

Explore other issues

A business guide to new law changes
A business guide to new law changes
taxes
Taxes
Transportation
Transportation taxes and fees
Health care
Health care
Energy
Energy
Housing
Housing
Paid Family and Medical Leave (PMFL)
Paid Family and Medical Leave (PFML)
Earned sick and safe time
Earned sick and safe time
Environmental regulations
Environmental regulations
Noncompetes
Noncompetes
Legalization of marijuana
Legalization of marijuana
Carbon-free 2040
Carbon-free 2040
Workplace and staffing regulations
Workplace and staffing regulations
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Interested in the Chamber's policy work?

Our goal remains to ensure that our state remains affordable to raise a family or start a successful business. The voice of business is important at the Capitol, to share real stories of how legislators’ decisions help or hurt Minnesota’s entrepreneurs. If you’re interested in helping us fight for all employers and employees across the state, find an opportunity that fits your interest.