Yesterday the state released the February budget forecast, showing Democrat tax increases lead to a $3.7 billion surplus in 2025 and a $1.5 billion structural deficit beginning in 2026. The forecasted surplus does not account for any new spending, meaning that any ongoing spending bills passed in 2024 will further increase the structural deficit.

Senator Andrew Lang (R-Olivia) released the following statement in response:

“What we’re seeing with this forecast is a warning sign of what’s to come if the Democrat majorities continue their out-of-control spending habits. Last year we started session with a historic surplus, and Democrats blew through it, alongside passing $10 billion in tax hikes, which were clearly not enough to support their spending. This news may show a surplus in the immediate future, but it comes with a looming structural deficit following in 2026.

We need to pay attention to the warning signs and focus on repairing the state’s budget before it’s too late. Minnesota is speeding towards a deficit, and we have to rein in spending. Minnesotan citizens should not be left holding the bill for the Democrats’ overspending.”