Minnesota’s General Fund surplus is now forecast at $9.25 billion. That’s up from the $7.7 billion surplus projection that was made in November. “I am fully aware that we’re going to have to compromise together, but the good news is we can compromise on a whole lot of fronts to make life cheaper for Minnesotans now and into the future,” said Governor Tim Walz. “We can continue to invest in things like health care and education, reducing costs and making them more accessible to folks and making sure we keep up with infrastructure.” Walz said there should be some caution, especially with the conflict underway in Ukraine. Minnesota Senate Majority Leader Jeremy Miller said a $9 billion surplus is “mind boggling.” At a time of record inflation, Miller said Minnesotans are being overtaxed. “The best way to address that is to provide permanent, ongoing tax relief.”
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