ST. PAUL – State Rep. Dale Lueck, R-Aitkin, 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.
“The surplus is continued evidence that the common-sense approach over the past four years to grow Minnesota’s economy is working,” said Rep. Dale Lueck, R-Aitkin. “Holding state spending at a reasonable level and reducing taxes on individuals and businesses has proven to be positive for Minnesota’s economy. While some are now advocating abandoning that approach and replacing it with significant increases in both taxes and spending, I urge caution. Minnesota taxpayers continue to pay significantly more in taxes than is authorized to be spent in the current and out-year state budgets. With the continued collection of excess tax revenues and the state’s reserve account at a record level, there remains room for additional individual and business tax relief.”