On Tuesday, Dec. 6, Minnesota’s Department of Management and Budget (MMB) released its November revenue forecast, which provides information and an outlook for Minnesota’s financial picture. The report projects a record surplus of $17.6 billion for the next budget cycle, which is up from the previous $9.25 billion surplus in the February forecast. 

During the 2022 legislative session, Senate Republicans fought hard for permanent tax relief, but Governor Walz and Democrats refused. 

Senator Warren Limmer (R-Maple Grove) released the following statement:

“The climbing inflation rates severely impact all Minnesotans, especially our retirees already on fixed incomes,” Limmer said. “With a record-setting surplus of $17.6 billion, we have an even stronger indicator that now is the opportune time to stop taxing seniors twice on this vital benefit. Eliminating this tax is a policy I have been pushing for years. And with such a significant surplus, there is no reason why this cannot be accomplished in this upcoming legislative session. Sadly, as we saw during last session, Democrats will likely favor their massive spending priorities over this much-needed relief.”