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.

Senate Finance Chair Julie Rosen (R-Fairmont) released the following statement:

“It will be tempting to celebrate a large budget surplus, but I feel bad for the Minnesotans bearing the weight of this surplus. I would urge everyone to exercise some caution. Our state spending increases are unsustainable. The resilience of Minnesotans and an influx of federal funds has this particular budget in good shape, but we still have to get government spending back under control, improve accountability and transparency, and provide some badly-needed relief to Minnesota workers. Those will be my priorities for the upcoming year.”