Minnesota deficit shrinks to $994 million, down from $1.2 billion
Economist Tom Stinson declared the recession in Minnesota, "all but over," after the state trimmed more than $200 million from it's deficit. Helping to trim the budget were an increase in federal reimbursements for health care spending, and $127 million more from corporate tax revenues.
Although the future may look bright, unemployment numbers are still cutting down on funds from individual tax revenues. The loss of individual tax revenues are due to still high rates of unemployment.
Grade: 9.5/10
ReplyDelete• Should be its not it's in the first sentence.