ST. PAUL, Minn. – Today, Minnesota Management and Budget released a budget forecast projecting a positive budget balance of $7.7 billion for the current two-year budget cycle. In response, Senator Aric Putnam (DFL-St. Cloud) released the following statement:
“Despite the challenges before us, Minnesotans have shown great resilience and optimism during the pandemic. As a result, today we find ourselves with a $7.7 billion surplus, welcome news after weathering the pandemic for nearly two years. As we look for how best to use these unexpected resources, we should be grounded in those same values that have served us so well during the pandemic and remember to be both caring and responsible.
“Many families, workers, and small businesses are still struggling. When we consider how to use this surplus, helping those who are struggling and who have sacrificed the most must be our top priority. I’ve heard other politicians say that the focus of this surplus should exclusively be tax cuts, others say we must spend it: this is a false choice. We should take a balanced approach to the budget surplus and attend to both the immediate needs of individuals and the long term needs of our economy in order to ensure a fair recovery for all.”
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