State revenues falling
ST. PAUL - Republican legislative leaders say they worry that three straight months of smaller-than-expected Minnesota state revenue could spell trouble.
The latest Minnesota Management and Budget report shows an $11.5 million shortage in April. Individual income taxes were down nearly $40 million, although sales and other taxes were up.
So far this year, state revenue is down $78 million out of a $39 billion, two-year budget.
"Unfortunately, if this trend continues, Democrats will send Minnesota’s budget into a deficit in the next biennium," House Minority Leader Kurt Daudt, R-Crown, said. "Democrats took the wrong approach in our fragile economy, committing Minnesota taxpayers to historic spending increases in their budget."