On Thursday, Minnesota Management and Budget (MMB) released its annual November budget forecast. The report, which paints a picture of the state’s financial health, projected a surplus of $1.544 billion for upcoming two-year budget cycle – the largest budget surplus in state history.
“This is good news, but it means we’re collecting too much in taxes and fees from Minnesotans” said Senator Scott Newman (R-Hutchinson). “Our economy is on the right track, which means we can fund the priorities of Minnesotans without raising taxes. As we work with the governor and House of Representatives on a responsible two-year state budget, the forecast shows we can do it within our current means. That means we should halt any talk of a gas tax increase or any sort of a fee increase – both of which are already saddling Minnesota families with an unreasonable burden.”
State officials also project a surplus of $456 million for the 2022-2023 budget cycle. The full budget forecast can be found here.
Senator Scott Newman, of Hutchinson, is in his third term representing District 18, which includes communities in McLeod, Meeker, Sibley, and Wright counties. He serves as chair of the Transportation Finance and Policy Committee.