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.

“With a $17.5 budget surplus, our first priority must be giving it back to taxpayers,” Sen. Eric Lucero (R-St. Michael) said. “Unfortunately, under Democrats’ radical agenda, that is not going to happen. Individuals, families, and businesses continue to be crushed by inflation, but in the first two months of the legislative session Democrats have passed the most extreme abortion bill the state has ever seen, passed an energy bill that will cause blackouts and price spikes, provided driver’s licenses to illegal immigrants and given felons the right to vote before completing their sentence. Hardworking Minnesotans continue to be non-priority background noise to Democrats. Democrats care more about passing an extreme agenda to satisfy their extreme base than working together to do what is best for all people across the state.”