Two area state legislators issued press releases Thursday after the release of the state's annual November revenue forecast.
District 21B Rep. Marj Fogelman, a Fulda Republican, said Minnesota’s economic outlook is worsening thanks to the tax and spend decisions made by Gov. Tim Walz and the legislative Democrat majority last session. Said Fogelman: “They wasted a $20 billion budget surplus and raised taxes on Minnesotans by another $10 billion, and we have now begun to see the consequences. While we do have some good news in the short term, even that surplus total has declined since February.”
Fogelman's press release stated that Minnesota’s economic experts said the state
will see a $616 million surplus for the Fiscal Year 2026-27 biennium. This is $1.1 billion less than the number estimated in February. Projected reductions in income and sales tax revenues and higher spending for long-term care and special education needs are contributing to the revenue decline, Fogelman said.
A press release from District 21 Sen. Bill Weber, a Luverne Republican, adds that a $5.1 billion deficit is forecast by 2029. Weber noted that these forecast numbers do not account for any new spending, meaning that new spending bills passed in the next legislative session will further increase the deficit down the line.
Said Weber in his release: “Thanks to Democrats recklessly spending the entire $19 billion surplus, our state now faces a looming $5.1 billion deficit. This situation highlights the consequences of one-party rule and the mismanagement of taxpayer dollars. As we approach the 2025 legislative session, we must rein in excessive government spending and prioritize the wellbeing of Minnesota taxpayers.”
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