According to a new report, the state of Minnesota has a $1.871 billion budget surplus.
The state of Minnesota’s budget office on Thursday morning reported a $1.871 billion budget surplus. State law requires that $594 million of the surplus go into a reserve fund, and another $71 million into the environmental fund. That means, lawmakers will have an extra $1.2 billion to either spend or give back when they open the legislative session in March.
Government spending is down and state revenues are up — mostly driven by higher collections of sales taxes and corporate franchise taxes.
And remember, Minnesota’s $1.871 billion dollar budget surplus comes at a time when Democrats control the governor’s office and both houses of that state’s legislature, while Republicans in Wisconsin still haven’t figured out how to do anything but run deficits in our state.
Kinda blows a hole in the idea that Republicans are fiscally responsible and Democrats are not, doesn’t it?