MHP Responds to the MMB Forecast

To Support Minnesota Families, Invest $2B in What They Need Most: Housing.

Today the MMB announced a forecast improvement of $1.507 billion for the current biennium, leading to a revised projected general fund surplus of $9.253 billion for FY 2022-23. Anne Mavity, Executive Director of Minnesota Housing Partnership (MHP) responds:

This State budget forecast that projects an increase in the already historic state surplus is an opportunity to invest in Minnesota. The Governor, House Democrats, and Senate Republicans have all expressed the desire to support Minnesota families. Housing costs are typically the biggest expense Minnesota families have, comprising 30-50% of a family’s household budget. The best way to invest in Minnesota families is by investing in housing.

Housing costs are increasing across the board, and hard-working Minnesota families need investments in housing that respond to the strain on their household budgets. It’s time to acknowledge that past incremental increases for housing have not been sufficient to support families and workers, schools and businesses, senior citizens, and health. Now, more than ever, we need to scale our investments to the actual need and demand to provide long-term positive impacts for Minnesota.”

MHP with other housing champions have announced the necessity for transformative investments in housing in the 2022 legislative session. This is especially needed for the lowest income and Black, Indigenous, and people of color households who are disproportionately experiencing housing stability, cost burden, and exclusion from owning their own homes. $2 billion in 2022 for housing would be an investment in healthy families, children thriving in school, diverse and inclusive communities, and jobs and economic competitiveness.

Invest in Minnesota. Invest in families. Invest in housing.