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Legislative News and Views - Rep. Debra Kiel (R)

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Statement from Rep. Deb Kiel on Budget Surplus

Friday, December 2, 2016

Saint Paul, MINN— On Friday, the Office of Minnesota Management and Budget (MMB) released its November Economic Forecast, revealing updated budget numbers that will guide state leaders crafting a budget during the 2017 legislative session. For the current budget cycle, $334 million of this biennium’s balance will automatically go into the state budget reserve, leaving $678 million in surplus for 2016-17, and a $1.4 billion overall surplus heading into Fiscal Years 2018-19.

“While I am pleased our state is celebrating a surplus, Minnesota families aren’t always seeing a surplus in their own budget,” said Rep. Deb Kiel, R-Crookston. “My focus is on returning those funds to the hardworking taxpayers who helped fund our state’s $1.4 billion surplus. Next session, I will advocate for meaningful middle-class tax relief, as well as work to provide relief for folks affected by our state’s health care cost crisis.”

According to MMB, Minnesota has a structural surplus moving forward, with a projected surplus for the 2020-2021 biennium. An updated forecast will be released in February which legislators will use as a final economic outlook to craft our state’s budget.