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State Budget Update Shows Huge Deficit Due to COVID-19 Impact
On May 5, 2020 by Jeff Bostic
The State of Minnesota yesterday released an unusual budget update to measure the impact of the COVID-19 pandemic on the state budget. As anticipated, the economic slowdown tied to the COVID-19 response is projected to have an enormous impact with the state now anticipating a deficit of $2.4 billion for the biennium.