ST. PAUL – State Representative Jason Rarick (R-Pine City) said Minnesota's February state budget forecast shows a positive balance of $339 million.
“It’s always preferable to have a budget surplus as opposed to a budget deficit,” Rarick said. “And it’s always preferable to return any surplus to the taxpayers, as they are the ones who created the more-than-needed revenue now sitting in state government.”
Rising general sales tax projections, up by $119 million, and corporate tax projections, up $131 million, are the top reasons Minnesota’s budget surplus has grown.
“I would not be at all surprised to see a number of lawmakers looking for ways to spend the surplus,” Rarick said. “But the residents I’ve spoken with seem very pleased with the tax relief that has been given to them at the state and federal level over the past year, and I’m hopeful we now have another opportunity to let middle-class Minnesotans keep more of their earnings.”