ST. PAUL - Minnesota's economic experts continued to express optimism in the latest budget forecast that was unveiled on February 26. They found Minnesota now has a $1.6 billion budget surplus, up more than $2.8 billion from the previous projection in November.
"Considering what was projected several months ago, and considering we are still living under Governor Walz’s pandemic executive orders, I view this budget overview as very positive news,” said State Representative Rod Hamilton (R-Mountain Lake).
Hamilton said the overwhelming change is due in part to fiscal actions taken by the federal government that were not taken into account during the November forecast, better than expected revenue collections, and lowered state spending.
“This news should end discussions on any proposed tax increase being pushed by Governor Walz and House Democrats,” Hamilton said. “Let’s not forget we still have businesses that aren’t operating at full capacity and people struggling to find a job. Implementing tax hikes would only make their financial problems worse.”