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| Date: | December 2, 2011 | | Contact Name: | Susan Closmore | | Contact Phone: | 651-296-5712 | | Contact Email: | susan.closmore@senate.mn | | For Immediate Release | |
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| Senator Dave Thompson 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 Dave Thompson (R-Lakeville) gave the following statement in response to the budget forecast.
"Like all Minnesotans, I was thrilled to see that our state is expected to have an $876 million budget surplus during the remainder of the biennium. This is certainly a step in the right direction," said Senator Thompson.
"It is important to note that this same budget forecast predicts a $1.3 billion shortfall next biennium. We are still not out of the woods, and we still need significant changes in the way Minnesota does business in order to avoid these repeated shortfalls," added Senator Thompson.
"It is estimated that about 80% of the surplus can be attributed to changes made in our Health and Human Services budget. These are changes promoted by Senator David Hann and other Republican leaders. Governor Dayton and DFLers in both houses of the legislature opposed most, if not all of these reforms," concluded Senator Thompson. "Less government spending, holding the line on taxes, and reducing business regulations lead to prosperity and job creation."
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