Posts Tagged ‘general fund surplus’

Smart Fiscal Management Contributed to Surplus

The November 2016 state economic forecast projected an official general fund surplus of $678 million in the current biennium and a $1.4 billion surplus for the upcoming FY 2018-19 biennium, as noted in a recent North Star article. The presence of surpluses is a welcome reversal from the preceding era of recurring budget deficits. At…

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Don’t Base Large Tax Cuts on an Uncertain Forecast

The ink was hardly dry on the November 2016 forecast when conservatives started calling for big tax cuts. After all, there is a $1.4 billion surplus projected for the upcoming FY 2018-19 biennium—what better time to go on a tax cutting spree! However, a closer examination of the November forecast indicates that caution is in…

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Modest Changes Mean a “Boring” November Forecast

The newly released November forecast shows only modest changes to state revenues and expenditures relative to what was projected at the end of the 2016 legislative session. As a result, the forecasted surpluses—now projected to be $678 million at the end of the current FY 2016-17 biennium and $1.4 billion in the upcoming FY 2018-19…

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