ST. PAUL (WJON News) -- The Minnesota State Budget Surplus has grown to an estimated $17.6 billion.

The Minnesota Office of Budget and Management says strong tax collections and lower-than-projected spending are adding to the fiscal year 2022-2023 surplus.

House Minority Leader Republican Lisa Demuth of Cold Spring has released a statement on the surplus, she says,

"Minnesotans are being massively overtaxed, and we should spend most of the next session working to give as much of it back to Minnesotans as possible. Tax hikes of any kind should be a complete non-starter."

Get our free mobile app

The Coalition of Greater Minnesota Cities President and Thief River Falls Mayor Brian Holmer says Tuesday's announcement:

“This is terrific news for Minnesota. The budget surplus, coupled with millions of federal dollars waiting to be matched, means state leaders have a once-in-a-generation opportunity to make investments that will have a lasting impact on improving our communities."

More From KROC-AM