On Monday, Minnesota Management and Budget (MMB) released its February 2022 Forecast projecting a massive $9.253 billion dollar surplus which is up from the $7.746 billion surplus forecasted last November. Senator Justin Eichorn (R-Grand Rapids) released the following statement: 

“The budget surplus shows that Minnesotans are being overtaxed,” Eichorn said. “Historic inflation is devastating our family budgets meanwhile government’s budget is doing better than ever. It is time we return the surplus back to the people who created it. We need to pass our plan to eliminate the social security tax and slash income tax rates for every Minnesotan to help give Minnesota families the relief they deserve.”

Senate Republicans unveiled their tax proposal last week that would use the surplus to eliminate the Social Security Tax and cut income taxes for every Minnesota taxpayer. You can read more here.