Feb. 28 - Budget Surplus Grows From $7.7 Billion to $9.25 Billion

Gov. Tim Walz is join by his Management and Budget Executive Leadership Team, Commissioner Jim Schwalter, State Economist Dr. Laura Kalambokidis and Deputy Commissioner Britta Reitan during a news conference to release the 2022 Budget and Economic Forecast.

Management and Budget Commissioner Jim Schowalter discusses the $1.5 billion increase in the budget surplus during a media briefing of the 2022 Budget and Economic Forecast. Commissioner Schowalter cautioned that inflation and the war in Ukraine could pose a risk to future budget and economic growth.

Senate Majority Leader Jeremy Miller listens as Commissioner Schowalter discusses the budget forecast.

Gov Tim Walz reacts to the February budget surplus that has grown from $7.7 billion to $9.25 billion for the current biennium.

House Speaker Melissa Hortman huddles in talks with Sen. Julie Rosen, chair of the Senate Finance Committee, along with Senate Majority Leader Jeremy Miller and House Minority Leader Kurt Daudt during the news conference to release the 2022 Budget and Economic Forecast.

Senate Majority Leader Jeremy Miller and Sen. Julie Rosen, chair of the Senate Finance Committee, react to the increase in the budget surplus.

House Minority Leader Kurt Daudt suggests permanent tax relief and an end to the Social Security tax as two uses for the budget surplus.

House Speaker Melissa Hortman declared Minnesota’s corporate profits are exceeding expectations and it’s time to address the challenges Minnesota workers and families are still facing while our economy is doing well.