Miller statement looming $6 billion budget deficit

The office of Minnesota Management and Budget (MMB) today released its annual February economic forecast. The report, which details the state’s budget picture, shows that Minnesota has a projected deficit of $6 billion in the next biennium.

Senator Jeremy Miller (R-Winona) issued the following statement:

“This budget forecast is concerning, but not surprising. In just two years, the state went from an $18 billion surplus to a $6 billion deficit. Instead of putting money back in the pockets of hardworking taxpayers, the $18 billion surplus — plus an additional $10 billion in new taxes and fees — was spent on growing the size of government at an unsustainable level. Simply put, it’s time to stop the spending spree by restoring fiscal responsibility here in Minnesota.”

In the past decade, Minnesota’s government budget has nearly doubled from a $39 billion general fund budget in 2014 to $71 billion in 2024. The state now has some of the highest individual taxes and the 46th worst state and local tax burden in the nation.

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