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 Julia Coleman (R-Waconia) released the following statement:

With a $17.5 billion budget surplus, our priority must be to give it back to taxpayers. While the government’s budget is holding strong, Minnesotans continue to face the spiraling costs of everyday expenses. We need to provide meaningful and permanent tax relief that allows families to decide how to best meet their unique needs. 

Minnesota ranks as one of only 11 states that still tax Social Security income, and I have heard from countless constituents on this issue. The astronomical surplus means that we have more than enough money to end this burdensome tax once and for all.