State continues to collect near record-high tax revenues, weakening argument for massive tax hikes

John Phelan, Economist at Center of the American Experiment, released the following statement in response to Minnesota’s February Budget and Economic Forecast:

“With a $1 billion surplus and state tax revenues near an all-time peak – tax collections are up by 31% in real terms since 2010 – there is simply no need for massive tax hikes like those proposed in the governor’s budget. Before squeezing working Minnesotans even harder, lawmakers should find out why the state is still failing in one of its core duties, to maintain our transportation infrastructure, when more taxes are being collected than ever before.”