The office of Minnesota Management and Budget (MMB) released its annual November economic forecast on Tuesday. The report, which details the state’s budget picture, projected a record-setting surplus of $17.6 billion.

“The record surplus paints a great picture for Minnesota’s financial health, but it stands in contrast to the conditions many Minnesotans face,” Senator Bill Weber (R-Luverne) said. “At the same time, government coffers are growing many Minnesotans are struggling financially. This session, Minnesota must focus on using the surplus to protect its seniors, families, main street businesses, and farmers. That means meaningful ongoing tax relief, controlling spending, and focusing on existing programs that deliver results that help Minnesotans.”

Senate Republicans passed billions in tax cuts over the last five years, stopped Gov. Walz’s massive tax increases, and passed the first income rate tax cuts in 20 years. Last session, Senate Republicans fought to provide Minnesotans meaningful and permanent tax relief. Unfortunately, Governor Walz and House Democrats stonewalled all attempts.