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| Date: | December 1, 2011 | | Contact Name: | Susan Closmore | | Contact Phone: | 651-296-5712 | | Contact Email: | susan.closmore@senate.mn | | For Immediate Release | |
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| Senator Gretchen Hoffman Statement on Projected Budget Surplus |
St. Paul- Minnesota Management & Budget Commissioner Jim Schowalter released the November budget forecast Thursday projecting a surplus of $876 million for the current biennium (Fiscal Years 2012-13). In accordance with current law, the surplus will be used as follows: $255 million to bring the state's cash-flow account back to a total of $350 million and $621 million to bring the state's budget reserves to a total of $648 million. Senator Gretchen Hoffman (R-Vergas) gave the following statement in response to the budget forecast release.
“Today’s budget forecast news is great! It shows that by living within our means, we can set Minnesota’s state budget on a sustainable path. It also shows that tax hikes are dead. Our work is far from done. I remain committed to restraining government spending and promoting private sector job growth,” said Senator Hoffman. “We will continue to seek out ways to reform state government and improve our economic climate here in Minnesota. In this fragile economy, we can’t take anything for granted. Today’s forecast is simply a reinforcing nudge that we are moving in the right direction under the leadership of Republican majorities in the legislature.”
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