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Legislative News and Views - Rep. Bob Dettmer (R)

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REP. DETTMER RESPONDS TO HISTORIC STATE BUDGET SURPLUS PROJECTION

Thursday, December 9, 2021

ST. PAUL – State Representative Bob Dettmer (R-Forest Lake) said Minnesota’s latest budget forecast projects incoming revenue is outpacing expected expenses by a record amount.

 

For the current budget cycle, Minnesota now projects a $7.746 billion surplus.

 

“It's good news that we have a budget surplus, but its proof that Minnesota is taking too many taxpayer dollars,” Dettmer said. “At a time when everyone is paying more to heat their home, buy groceries, and fill up their vehicles, we must be looking at ways to reduce the financial burdens of hardworking Minnesotans by providing tax relief.”

 

According to the Minnesota Management and Budget Office, strong growth in income, consumer spending, higher tax receipts and slightly lowered state spending helped contribute to the surplus projection.

 

Dettmer said the improved budget forecast triggers a statutory allocation to the budget reserve, putting the reserve balance at $2.656 billion.