In This Issue:
State Revenues Tick Upward
The July revenue update released this week by the Office of MN Management and Budget (MMB) shows that general fund revenues for fiscal year 2025 are now projected to be $847 million, or 2.7%, higher than what was projected in the February 2025 budget and economic forecast, with net income tax receipts above what was forecast, and corporate and sales taxes, as well as other revenues, below what was forecast. The update notes that the near term national economic outlook shows low growth and higher inflation. View the update HERE.
Policy Committees Begin Week of July 28th
Metro Cities 2025 policy committee process will begin the week of July 28th. Committee descriptions and dates are on the website. Please be sure to sign up for the committee(s) you wish to attend, which will help us to keep rosters accurate. We look forward to seeing you!