On Monday, Minnesota Management and Budget (MMB) released its February 2022 Forecast projecting a massive $9.253 billion dollar surplus which is up from the $7.746 billion surplus forecasted last November. Senator Torrey Westrom released the following statement: 

“Minnesota is one of the highest tax states in the nation,” Westrom said. “We should use the surplus to lower taxes for all Minnesota *(taxpayers)and not by creating more government programs. *(We should also look at doing a one-time substantial property tax rebate with the extra cash in the state coffers.) With bidenflation devastating family budgets, it is time we give Minnesotans the relief they’ve earned.” 

Senate Republicans unveiled their tax proposal last week that would use the surplus to eliminate the Social Security Tax and cut income taxes for every Minnesota taxpayer. You can read more here.