Earlier today, the office of Minnesota Management and Budget (MMB) released its February revenue forecast, which provides information and outlook for Minnesota’s financial picture. According to the report, the state has a $329 million surplus for the remainder of the budget cycle – an improvement of $518 million from the November forecast. Looking ahead, the forecast projects a surplus of $313 million for 2020-2021 biennium.

Senator Julie Rosen (R-Vernon Center) released the following statement:

“The budget surplus is encouraging for Minnesota’s future, and it is a testament to what the legislature can accomplish when people work across party lines to do what is best for Minnesota. That is what we did last year, and this $329 million surplus – an improvement of more than $500 million from November – is a direct result.

 

But make no mistake: we still have more to do. Tax relief will again be a priority in 2018. Just as important, I look forward to having a robust debate about government spending and reform. Government spending continues to increase at an unsustainable rate – a rate far above inflation and population growth. If Minnesota is to continue its successful track record, both parties must place a stronger emphasis on responsible spending.”