Today’s a big day for Minnesota – it’s the start of the new fiscal year.
Many elements of the state’s budget for FY 2014-15 go into effect July 1, beginning a new era of investments in Minnesota’s future prosperity.
The new state budget gets Minnesota back on track after more than a decade of deficits, gimmicks and steep cuts to essential services.
The budget gives all Minnesotans a reason to celebrate:
- Children will see increased investments in their schools, particularly in early education, helping all students get a solid start.
- College students will find their education is more affordable.
- More people who are looking for jobs will receive the training they need.
- More families without health insurance will get access to affordable, quality health care.
- Renters and homeowners will receive higher property tax refunds.
- And Minnesotans will pay a fairer share of their income in taxes, narrowing the gap between what high-income households pay and what other Minnesotans pay.
This budget takes a remarkable U-turn from budgets of the last decade, where drastic cuts to critical services and decisions that undermined the state’s financial stability caused long-term harm to the entire state.
This change was no accident. It was the result of policymakers agreeing the time was right to stop the cycle of budget deficits and quick fixes, and make long-overdue investments in the state’s future. Groups including the Minnesota Budget Project successfully advocated for fairly raised revenues and investing in critical services.
The FY 2014-15 budget will take Minnesota a long way down the road to prosperity – and it all begins today.
You can find more information in our Choices in the 2013 Legislative Session Take Minnesota in a Better Direction analysis.