SAINT PAUL, MN – Rep. Kristin Robbins, R-Maple Grove, released the following statement regarding Minnesota Management & Budget’s announcement on Friday of a new state economic forecast which projects a $1.6 billion surplus for the 2022-2023 biennium:
“This $1.6 billion surplus is extremely good news and shows that Minnesota is well on the way to economic recovery after a devastating year of shutdowns. However, the Governor has indicated he intends to continue to push massive tax hikes that would only hinder the economic progress we have made.
“Much of the money in the forecasted surplus is one-time money tied to increases in federal payments to the state during the pandemic. We should use this one-time money to provide tax relief to businesses who took out a PPP loan by conforming to the federal forgiveness of these loans, as well as fund other recovery measures. Government should not count on the surplus to fund on-going future expenditures and should still look for ways to reduce the growth of state spending when setting the new budget.
“We need to grow our economy, not the size of state government. Instead of increasing Minnesotans' taxes, we need to look at ways to streamline services and cut wasteful spending.”