HOUSE GOP STATEMENT ON RECORD-SETTING SURPLUS
ST. PAUL — On Tuesday Minnesota Management and Budget released the November budget forecast showing a record-setting $7.7 billion projected surplus for the 2022-2023 biennium. House Minority Leader Kurt Daudt, R-Crown, issued the following statement regarding the forecast report.
"While government is flush with cash, Minnesotans are still struggling with inflation at thirty-year highs, gas prices up 50% or more, and sticker shock on their energy bills. This record-setting surplus gives us a real opportunity to help make Minnesotans' lives more affordable and prevent Gov. Walz and Democrats from raising taxes on struggling businesses later this month."
Later this month, Minnesota businesses are expected to be hit with a 15% or higher hike to address the $1 billion deficit in the Unemployment Insurance Trust Fund. House Republicans have urged Gov. Walz to take action to avoid a harmful tax increase on businesses struggling with inflation and supply chain challenges. In addition to the $7.7 billion surplus, Minnesota has more than $1 billion in COVID relief dollar available, which 31 other states have used to address UI debts owed to the federal government.