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| Date: | February 29, 2012 | | 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 FEBRUARY FORECAST |
St. Paul- Minnesota Management and Budget Commissioner Jim Schowalter announced Wednesday that the February economic forecast shows a positive budget balance of $323 million for the current biennium (Fiscal Years 2012-13). This is $323 million more than the $876 million surplus reported in the November 2011 forecast. In accordance with current law, $5 million of that positive balance will be used to restore the state’s budget reserve to a total of $653 million and the remainder, $318 million, will be used to buy-down the school shift. Senator Dave Thompson (R-Lakeville) gave the following statement in response to the February forecast.
“Fiscal responsibility and sensible government works! Today’s budget forecast shows a $1.2 billion surplus in Minnesota. Republicans’ commitment to policies encouraging job creation in the private sector and spending restraint has put Minnesota’s economy on the road to recovery,” said Senator Thompson. “While this is great news, it is also an indicator that we need to continue to be prudent managers of the tax payer dollar and look for ways to strengthen Minnesota’s business climate. I’m focused on legislation that reduces the size of government.”
