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 Mark Johnson (R-East Grand Forks) released the following statement: 

“Government’s massive surplus should be returned to the taxpayers who created it,” Johnson said. “Minnesota is one of the highest tax states in the country and today’s news is further proof that Minnesotans are overtaxed. If we want to be competitive with neighboring North Dakota and other states then we need a substantial tax reduction. It is imperative we use this surplus to give meaningful tax relief to Minnesota families, so they have more money in their pockets in the face of historic inflation.”

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 about it here.