On Monday, Feb. 27, Minnesota’s Department of Management and Budget released its February revenue forecast, which provides information and an outlook for Minnesota’s financial picture. The report shows the surplus holding steady at $17.5 billion, with inflation accounting for $1.4 billion going back into state spending automatically.

Senator Jim Abeler (R-Anoka) released the following statement on the surplus and a bill, SF 1499, he co-authored to give $8.7 billion, or half the state’s surplus, back to taxpayers in the form of rebate checks:

“Our state’s substantial budget surplus is a reminder of just how severely Minnesotans are overtaxed. Hard-working Minnesotans need immediate relief that allows them to decide how to best spend their money. Giving back half the surplus in rebate checks would accomplish just that and allow the governor to give a goodly part of the surplus back to taxpayers. 

“While I agree with the governor on giving back some money in rebates, he has still chosen to raise taxes in multiple ways on working families. This is a terrible idea in a time of surplus. 

“With a $17.5 billion surplus, our state has more than enough money to fully fund our needs and provide ongoing and permanent tax relief. Minnesota is one of only eleven states that taxes retirees on their Social Security income and the surplus indicates that there is no excuse to not end this burdensome tax once and for all.”