Minnesota’s office of Management and Budget (MMB) on Monday released its February revenue forecast, which provides information and an outlook for Minnesota’s financial picture. The report projects a surplus of $17.5 billion for the next budget cycle, which begins in July. 

Last week, the legislature passed a bill to automatically add inflation to forecast computations. Without that change, the true surplus number is closer to $19 billion.

Senator Justin Eichorn (R-Grand Rapids) issued the following statement:

“Government is taking way too much from working Minnesotans. We need meaningful, permanent tax cuts. Now.”