SAINT PAUL – Rep. Jim Joy (R-Hawley) issued the following statement on the February Budget and Economic Forecast released today showing a continued looming budget deficit:
“One-party control is continuing to prove to be unaffordable and irresponsible for Minnesotans. After spending a $17.5 billion surplus last year, Democrats increased taxes by $10 billion to pay for their out-of-control spending spree. Now, we are facing a looming budget deficit that will only continue to grow if Democrats spend more this session. We need to stop the reckless waste of taxpayer dollars and instead focus on supporting family budgets.”
The February budget forecast showed a $3.7 billion surplus in 2025, but a $1.5 billion deficit beginning in 2026. The deficit is forecasted as if the surplus will not be spent, meaning any new spending bills passed in 2024 will further increase the deficit.
“If Democrats continue to raise taxes on hardworking Minnesotans to pay for all their government spending, it’s border communities like ours that will pay the price,” said Joy. “The more Democrats tax and spend, the more people will move their families and businesses to North Dakota. We need balance in St. Paul to put an end to the unaffordable and irresponsible Democrat policies that hurt Minnesotans and force people out of our great state.”
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