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Minnesota ends fiscal year with $850M surplus, defying forecasts amid mixed tax revenue.
Minnesota ended its fiscal year with a general fund surplus of $850 million, totaling $31.9 billion, 2.7% above forecasts.
This surplus was mainly due to higher individual income tax payments, despite lower revenues from sales, corporate, and miscellaneous taxes.
The state's economic outlook through 2029 predicts low GDP growth and rising unemployment.
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Minnesota termina el año fiscal con un superávit de $850 millones, desafiando las previsiones en medio de ingresos fiscales mixtos.