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 Glenn Gruenhagen (R-Glencoe) issued the following statement:

“Government has taken far too much money from people over the years; it is time to give it back. Unfortunately, Democrats appear to be ready to spend the entire thing, so taxpayers probably shouldn’t get their hopes up for any real relief to help with soaring prices. It is extremely frustrating, but I will continue to advocate for real, significant tax relief instead of more spending to grow the already-bloated government bureaucracy.”