ST. PAUL – Rep. Bud Nornes, R-Fergus Falls, issued the following statement regarding the release of the state's new economic forecast on Friday, which calls for a $900 million surplus – $300 million less than projected in November.
"Two things stand out in my mind," Nornes said. "First of all, the forecast lists a weaker national economy and reduced consumer spending as key factors in lower revenue projections. That said, a surplus still is projected, meaning the state is collecting $900 million more than it needs. This information highlights the importance of reducing taxes in the 2016 session, leaving money the state does not need in the hands of families and small businesses so they have more to spend. We also should view this as an opportunity to provide more funding to improve our roads and bridges without raising the gas tax."
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