Minnesota Management and Budget (MMB) today released the state’s February budget forecast. It shows an initial surplus of $3.7 billion this budget, with significant structural imbalances in the future.

Senator Mark Koran (R–North Branch) released the following statement:

“The strong tailwinds of the national economy are really driving the short-term surplus,” said Sen. Koran. “Gov. Walz and Democrats raised record taxes on Minnesotans and they still outspend revenue. In the long-term, it’s a rough picture for Minnesota. Families will pay for the Democrat deficit with a higher cost of living and cuts to schools, healthcare, and infrastructure.”

The full February Budget and Economic Forecast can be read here.