Poll: What To Do With Minnesota's Projected Budget Surplus?

MINNESOTA — This week, Minnesota Management and Budget released the economic forecast, showing a projected surplus of $1.54 billion for fiscal years 2020-2021. The state’s budget reserve account now tops $2.075 billion, its highest level in state history.

There's already a lively debate over what the news means at the state Capitol. House Democrats argue that if inflation is taken into account, the projected balance for the next two years is only $382 million.

They also note that, according to the state's budget office, economic growth is expected to slow down in future years.

“Our budget forecast is positive for the next two years, with significant cautionary notes for the future,”DFL House Speaker-designate Melissa Hortman said in a statement.

"We plan to invest the state budget in areas that will increase economic opportunity and security for all Minnesotans now and going into the future."

State Republicans argue that the surplus should mean no new taxes will be considered in the upcoming legislative session.

“Although today’s budget forecast shows a surplus of over $1.5 billion, Governor-elect Tim Walz and his administration have already laid plans to raise taxes on Minnesotans during the next biennium," Minnesota's Republican chairwoman, Jennifer Carnahan, said in a statement.

Carnahan said she hopes "tax relief" is enacted for Minnesotans.

TELL PATCH: What do you think lawmakers should do with the projected surplus?

If you chose "other," be sure to post your suggestion in the comments!

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