ST. PAUL, MN—House Minority Leader Kurt Daudt, R-Crown, issued the following statement regarding the release of the February budget forecast. State revenue projections were down by $492 million since the November forecast, primarily as a result of lower income tax revenues despite a growing economy and low unemployment. The budget surplus for FY20-21 stands at $1.052 billion.
"We are starting to see the consequences of Minnesota's status as a high tax state," Leader Daudt said. "Our economy is growing, wages are up, but our sky-high tax rates are choking state revenues and we're now looking at a deficit in the next biennium. Democrat proposals for huge permanent spending increases and tax hikes on gas and trips to the doctor will only make this problem worse. Our economy grows when Minnesotans have more money to spend—House Republicans are going to focus on helping people keep more of their hard-earned money and growing the economy that way, rather than taking more money for government. With a billion dollar surplus, and hundreds of millions more in waste, fraud, and abuse, we have the money we need to fund our state's priorities."
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