On Thursday, Feb. 29, Minnesota Management and Budget (MMB) released its annual February revenue forecast, which provides an outlook for the state’s financial picture. The forecast shows Democrat tax increases leading to a $3.7 billion surplus in 2025 and a $1.5 billion structural deficit beginning in 2026. The deficit is forecasted as if the surplus will not be spent, meaning on-going spending bills passed in 2024 could further increase the structural deficit.

Senator Bill Weber (R-Luverne) released the following statement on the February budget forecast:

“Last session, the legislature had a $19 billion surplus at our disposal. This was more than enough to provide for the needs of our state. Yet Democrats turned a blind eye to Minnesotans and spent the entire surplus. At the same time, they grew government budgets by nearly 40% and raised taxes by $10 billion. 

“The latest budget forecast serves as a warning that we cannot continue down this path of runaway spending. We need to focus this year on getting our finances in order and repairing the damage done to our state’s budget. Minnesota taxpayers should not be held responsible for Democrats’ out-of-control spending.”