Minnesota’s office of Management and Budget (MMB) on Friday released its February revenue forecast, which provides information and outlook for Minnesota’s financial picture. The report projects a surplus of $1.6 billion for the next budget cycle, which begins in July. The surplus is a reversal from the November forecast, which found a $1.27 billion deficit for the upcoming budget cycle.

Senate Finance Chair Julie Rosen (R-Fairmont) released the following statement:

“Today’s budget surplus is good news and an amazing testament to the resilience of Minnesotans. But it does not change the fact that our state budget is unsustainable and has been for a long time. As chair of the Senate Finance Committee, I’ve got two priorities for the budget: first, we will be looking into government spending, government accountability, and seeing where this money is going. Second, Minnesota workers and small business owners are still struggling. Let’s get them some targeted tax relief.”