Before the Negotiations Begin: Minnesota's Budget Deficit and Possible Solutions

Minnesota has a projected $5 billion deficit over the next biennium. The House and Senate propose reduced spending without tax increases, while the governor’s proposal includes a mixture of spending cuts and an additional tax increase on the state’s highest earners. Is there a common ground to be found between the two plans? Will tax increases drive Minnesotans and Minnesota jobs away? Will spending reductions have a disproportionate affect on lower and middle income individuals? Leaders of the state legislature and governor’s cabinet assessed the budget decisions and consequences. Additionally, they gave us a snapshot of how this great difference in positions can be bridged. Panelists included:

Amy Koch, Minnesota Senator Majority Leader
Kurt Zellers, Minnesota House of Representatives Speaker
Myron Frans, Commissioner, Department of Revenue
Jim Schowalter, Commissioner, Minnesota Management and Budget

The event was moderated by Steve Sviggum, Regent at the University of Minnesota and former Speaker of the Minnesota House.