On Thursday, state economists released their annual November budget forecast. This year’s forecast projects Minnesota to have a $1.3 billion budget surplus during the 2020-2021 budget cycle. Such a substantial budget surplus is certainly not bad news. However, it does indicate that the state is taking in more revenue than it needs.
The good thing is that it appears the increase in revenue is due in part to a state and national economy that is holding strong thanks to tax relief efforts that were championed by Republicans in St. Paul and D.C.
While Democrats and Governor Walz would like to use the surplus funds to grow the size of government, I believe that we should return as much of the surplus as possible to Minnesotans via tax relief.
When Republicans were in the majority in the House, we showed that government can make substantial investments in the things that matter most to Minnesotans without raising taxes. In fact, we made historic investments in education and roads and bridges while also cutting taxes for every Minnesotan.
If we prioritize our spending, we can create a government that is effective while also making sure that Minnesotans keep more of their hard-earned money.
Let’s strive for that goal.
Staying in Touch
That’s all for this week’s update. Please be sure to contact me to share any questions or concerns you may have about anything related to state government. I can be reached by phone at 651-296-8237 or via email at firstname.lastname@example.org. It would be great to speak with you!
Have a great weekend,