Kare11
Minnesota budget forecast is steady, but potential trouble looms
An updated forecast from Minnesota Management and Budget projects a surplus of $2.4 billion in the two-year budget period through June 2025.
SAINT PAUL, Minn. — Minnesota’s budget picture remains stable in the near term but there are clouds on the horizon, officials announced Wednesday.
An updated forecast from Minnesota Management and Budget projects a surplus of $2.4 billion in the two-year budget period that runs through June of 2025. That’s up $808 million from the estimate at the end of the legislative session in May. The bigger surplus still accounts for just a fraction of the budget of $72 billion.
Higher expectations for consumer spending and corporate profit growth are expected to raise tax revenues above the previous forecast. Budget officials say that’s because the near-term U.S. economic outlook has improved since February, driven by stronger-than-expected consumer spending, business investment, and employment.
But budget officials also warned of potential problems for the next two-year budget period, which begins in July of 2025. Higher estimates for health and human services spending, and education spending, are expected to result in a projected deficit.
The updated projection means that lawmakers will have a little more money to work with when they reconvene in February for the 2024 legislative session. Their options will include spending it, banking it or cutting taxes.
Officials plan to release more details later Wednesday. Gov. Tim Walz and legislative leaders from both parties plan to provide reaction.
Watch the latest political coverage from the Land of 10,000 Lakes in our YouTube playlist:
WATCH MORE ON KARE 11+
Download the free KARE 11+ app for Roku, Fire TV, Apple TV and other smart TV platforms to watch more from KARE 11 anytime! The KARE 11+ app includes live streams of all of KARE 11’s newscasts. You’ll also find on-demand replays of newscasts; the latest from KARE 11 Investigates, Breaking the News and the Land of 10,000 Stories; exclusive programs like Verify and HeartThreads; and Minnesota sports talk from our partners at Locked On Minnesota.
Police are investigating after three men were shot early on Saturday morning.
MINNEAPOLIS — Minneapolis police are investigating after three men were shot in the Ventura Village neighborhood early Saturday morning.
According to Minneapolis police, officers were called to the area around East 21st Street and South 15th Avenue around 5 a.m. Saturday.
Officers found three men had been shot. One of the men died and the two others were taken to the hospital with what police described as life-threatening injuries.
Officials said the shooting happened at a small homeless encampment.
Police have not announced any arrests as of Saturday morning.
KARE 11 will update this story as more information is made available.
This Halloween the chocolate shop is getting very festive.
MARINE ON SAINT CROIX, Minn. — A small sweet shop in a Minnesota river town has won some BIG awards for its chocolates.
St. Croix Chocolate Company in Marine on St. Croix has won national and international awards including Best of Show in this year’s America’s Division of the International Chocolate Awards.
Their chocolates are available at the St. Croix Chocolate Company kitchen or online.
This Halloween they are selling a Halloween Countdown Calendar that features 14 prize-winning recipes made into ghosts, bats, skulls and other spooky configurations. They also have a Boo Bag-handled tote that comes with their “best of” Halloween assortment.
Owner and Chocolatier, Robyn Dochterman, joined KARE 11 Saturday to share what St. Croix Chocolate Company has to offer.
MINNEAPOLIS — Making pasta at home is relatively simple, as long as you have the right tools.
October is National Pasta Month and Red Rabbit‘s Corporate Chef, Adam Lerner, joined KARE 11 Saturday to show us how to make homemade noodles in the confines of your own kitchen.
