ST. PAUL – State Rep. Bud Nornes, R-Fergus Falls, issued the following statement in response to new budget estimates released by Minnesota Management and Budget showing the last Republican budget led to a $1.5 billion budget surplus heading in to the 2020-21 biennium. The state’s rainy day fund will receive a $491 million infusion, bringing it to a record high of more than $2 billion. Minnesota also has a significant structural surplus moving forward through the 2022-23 biennium.
“It is good to see that choices House Republicans made continue producing positive economic results and the right thing to do is to convert this surplus into substantial relief for taxpayers that have been overcharged,” said Rep. Bud Nornes, R-Fergus Falls. “The concern I have is that a new Democrat majority in the House will see this surplus as a license for more government spending and raise taxes anyway. It would be a shame to see them waste such a golden opportunity and derail the growth we are seeing after four years of strong Republican leadership.”
In the last biennial budget, Republicans passed the largest tax relief package in nearly two decades, benefiting seniors, college graduates, Main Street businesses, and farmers.