Friends and neighbors,
Minnesota Budget Surplus Reaches a Record $17.6 Billion
On Tuesday, Dec. 6, the office of Minnesota Management and Budget (MMB) released its annual November revenue forecast, which provides information and outlook for Minnesota’s financial picture. When the next legislative session begins on January 3, legislators will use this forecast as a general guide – until the final forecast comes out in February 2023 – to craft our state’s next two-year budget.
The latest forecast found an astronomical budget surplus of $17.6 billion for the current budget cycle, which is up from the previous $9.25 billion surplus in the past February forecast. According to MMB, the surplus was driven by “strong collections and lower-than-projected spending.”
It’s always great news when our state has a strong surplus instead of a deficit. However, a surplus of this historic scale indicates that the state continues to ask far too much from taxpayers. And while state government may have a massive surplus, that is not the reality for many working families.
I have heard from far too many Minnesotans that they are struggling to afford daily life as they face out-of-control inflation, rising energy bills and a looming recession. With a state budget surplus of this magnitude, there is absolutely no reason why this money should not go back to the pockets of Minnesota taxpayers who created the surplus.
That is precisely why I believe the Minnesota Legislature must provide significant, year-after-year tax relief to those who need it the most, the taxpayers, this upcoming legislative session. And not just one-time checks to everyone. Further, it is long overdue to fully repeal the Social Security income tax, and the record surplus signals our state has more than enough resources to do just that.
Commemorating the 80th Anniversary of Pearl Harbor
On Wednesday, Dec. 7, our Nation observed the 81st anniversary of the tragic attack on Pearl Harbor. And despite the passage of time, this event still soundly resonates with Americans and especially our Veterans.
This day of tribute is a steadfast reminder of the more than 2,400 Americans who made the ultimate sacrifice as they defended our freedoms. And every year on this commemoration, the American flag is required to be flown at half-staff until sunset on December 7 to pay tribute to those who lost their lives.
Although the attacks on Pearl Harbor were a time of great tragedy, we truly came together as a Nation and our patriotic spirit was reignited. Let us never forget this most significant day in American history.
Contact me
As always, if have questions or concerns on any legislative topic, feel free to contact me any time. You can call me at 651-296-5655 or send me an email at sen.mary.kiffmeyer@senate.mn. It is a privilege to serve as your state senator.
Sincerely,
Mary