FOR IMMEDIATE RELEASE

CONTACT: John Pollard
Legislative & Communications Director
651-201-8039

$1.1 Billion Projected Budget Deficit for 2014-15 Biennium

St. Paul—Minnesota Management & Budget will release details later today about the latest state forecast which shows that the state faces a $1.1 billion dollar projected budget deficit for the 2014-15 biennium.  Current conditions will allow the state to reduce the K-12 education shift by $1.3 billion of the $2.4 billion outstanding but that improvement does not continue into next budget period.

Commissioner Jim Schowalter, State Economist Tom Stinson, and State Budget Director Margaret Kelly will hold a press conference on the complete budget forecast at 11:45AM in room G-15 of the Capitol today.

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