For more information contact: Ted Modrich 651-296-5809
(ST. PAUL) — Today, Minnesota Management and Budget announced that the state has an unexpected $876 million surplus for the rest of this biennium. Current law states that the surplus must go to the state’s cash flow account and budget reserves.
State Representative Ryan Winkler (DFL – Golden Valley) released the following statement on the announcement of a budget surplus:
“The State of Minnesota just found a $20 bill in its pocket. We haven't solved our money problems. So Minnesota politicians should not repeat past mistakes and use a small budget surplus to offer tax cuts or rebates to tax payers. This surplus should be used to move us toward a responsible budget by paying back tobacco bonds and paying down the school shift.
“We have tremendous obstacles to future prosperity that we must address: a shrinking middle class, reduced research and development, an aging population, and an education system that isn’t preparing enough students for the world economy. We can’t tackle any of these problems without sound state finances.
“The forecast could also change between now and February, and Minnesota faces a huge deficit in the next budget cycle. We must take this opportunity to begin paying off the irresponsible debt racked up as a result of dysfunctional politics and an extremist Republican majority."