ST. PAUL – If projections from state economists remain accurate over the next few months, Minnesota is expected to receive a $1.037 billion surplus for the 2015-16 budget cycle.
State Representative Steve Drazkowski (R-Mazeppa) said state lawmakers should react to this news with caution.
“Any projected surplus belongs to the people, because it represents the amount of their money that the state over-collected,” Drazkowski said. “Our economy is still sputtering and it’s time to begin eliminating unnecessary state government burdens that threaten future economic growth.”
According to Minnesota’s economists, the good fiscal news is due to higher than expected revenue collections and lower than expected state government spending. Though Minnesota’s Management and Budget commissioner stated that the 2016-17 forecast surplus of $1.037 billion is just enough to cover expected spending growth, Drazkowski urges caution.
“We just came off the largest spending increase in Minnesota’s history, so don’t expect a repeat performance,” Drazkowski said. “It’s time for some fiscal responsibility at the state level, and it’s time to recognize that hardworking Minnesotans are ultimately the reason for any projected surplus. Our state spending spree has ended, and now it’s up to lawmakers to focus their efforts on policies that protect the pocketbooks of Minnesotans.”