Yesterday, the office of Minnesota Management and Budget (MMB) released its annual November budget forecast. The report, which details the state’s budget picture, projected a surplus of $1.544 billion for upcoming two-year budget cycle — the largest budget surplus in state history.
“A budget surplus means the fiscal condition of our state is in good shape, but it also means we are collecting too many taxes,” said Senator Jerry Relph (R-St. Cloud). “Our economy is on the right track. As we work to put together a two-year state budget, we can do it without raising taxes and fees — which are already burdening hardworking Minnesotans.”
MMB also projects a significant structural surplus of $456 million for the 2022-2023 budget cycle. The entire budget forecast document is available here.
Senator Jerry Relph, of St. Cloud, is in his first term representing District 14, which includes St. Cloud, Waite Park, and other communities in Benton, Sherburne, and Wright counties.