The office of Minnesota Management and Budget (MMB) today released its annual November economic forecast. The report, which details the state’s budget picture, projects a surplus of $7.7 billion budget surplus for the 2022-2023 budget cycle.

Assistant Senate Majority Leader John Jasinski released the following statement:

“Any time you have a budget surplus instead of a deficit, it’s good news. But the size of this surplus gives me pause. Government is flush with cash, but Minnesotans aren’t seeing the size of their own savings accounts soar as high. Thanks to inflation they’re having to spend a lot more of their checks on everything from gas to groceries. We have a responsibility to make sure this budget surplus gets returned to the working folks who are driving our recovery. Significant, broad tax relief should be our top priority.”