Minnesota’s Budget Forecast is Stable but Issues Remain
Today Minnesota Management and Budget (MMB) released the first of two budget forecasts which will guide the work of the Minnesota Legislature during the 2026 legislative session. The key takeaways include:
November Forecast Explained
Each year MMB releases two different budget forecasts, with one in late February or early March and one in late November or early December. The second budget forecast of the year (released today) is the first one following the prior legislative session and provides public policy makers an overview of the state’s financial situation heading into the next legislative session. Today’s budget forecast and the one released in February 2026, will have a major impact on what options legislators might have at their disposal as they head into the 2026 legislative session.
Although the Minnesota Legislature does not have to pass a state budget during the 2026 legislative session, changes to the federal budget over the last six months make it more likely that legislators will need to consider some level of supplemental budget legislation this coming year.
