ST. PAUL – Today 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 deficit is forecasted as if the surplus will not be spent, meaning on-going spending bills passed in 2024 could further increase the structural deficit.

Senate Minority Leader Mark Johnson (R- East Grand Forks) released the following statement:

“There’s no leaping over it, Democrats’ tax-and-spend policies lead to a boom-and-bust budget. Democrats continue to entertain more spending this session while state officials urge caution, especially as the looming deficit signals risk to the state’s credit rating. Meanwhile, Minnesotans are struggling under $10 billion in new taxes while they hand over more tax money on their rebate checks.

“Senate Republicans will work to repair the damage Democrats have done to the state’s budget and the pocketbooks of millions of Minnesotans. We’ll hold the line on new spending and support a modest, commonsense bonding bill that doesn’t max out the taxpayer’s credit card.”