Minnesota’s budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford.

  • The 2023 state funds budget is $4.9 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $24.9 billion too much.
  • The 2023 all funds budget is $16.6 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $61.8 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $36.34
  • FY 2025 Only State Funds Budget Limit ($ Billions): $38.35
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 5.52%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $850
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $3,401
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $4,339
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $17,355

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $59.89
  • FY 2025 All Funds Budget Limit ($ Billions): $63.19
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 5.52%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $2,900
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $11,599
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $10,769
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $43,077

Other Considerations