SAINT PAUL, MN—The Office of Management and Budget (MMB) released their November Economic Forecast Thursday, revealing a projected surplus of $1.871 billion for Fiscal Years 2016-2017. State law puts $594 million into the state budget reserve, leaving an overall projected balance of $1.206 billion. As a result of Republican restraint, $865 million was left on the bottom line following the 2015 Special Session, helping bolster budget reserves and putting Minnesota in strong fiscal shape heading into 2016.
"The state collected too much from the hardworking taxpayers of Woodbury, and next session our first priority for this substantial surplus should be returning that money through middle-class tax relief," said Rep. Kelly Fenton (R-Woodbury). "Additionally, now that Governor Dayton has finally ended his push for an expensive and burdensome new gas tax, the legislature can pass a comprehensive road and bridge package to improve our transportation infrastructure."
Fenton also plans to renew her efforts to pass her bill funding a safety study of the 494/694/94 interchange in Woodbury to jump start improvements to that stretch of highway. In 2015, the House passed a 10-year, $7 billion transportation plan that would fix 15,500 lane miles of road and 330 bridges statewide with bipartisan support. The governor and Democratic lawmakers blocked the measure from becoming law because of their insistence on a gas tax increase.