Today, Minnesota Management and Budget (MMB) estimated a $1.513 billion surplus for FY 2020-21 at their annual February budget and economic forecast. This reflects a $181 million increase since the November forecast. The state budget was fully funded last session leaving legislators with important decisions to make this year. Lawmakers will use this surplus as a guide as they balance supplemental spending and tax relief.

“We are going to turn this surplus into tangible relief for every Minnesotan,” said Senator Bruce Anderson (R-Buffalo). “Our fight to reduce waste and focus on reform created this surplus and exposed that the government is taking too much in taxes. We are pleased to see such significant results come from our constant promotion of financial responsibility. This trend will continue as we focus on reducing government to serve your essential needs well.”