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State Representative
Phil Krinkie

365 State Office Building, 100 Constitution Ave., St. Paul, MN 55155 (651) 296- 2907

For Immediate ReleaseFor more information contact:
January 22, 1999Chris Harris (296-9719)
NEWS RELEASE
SENATOR RUNBECK AND REPRESENTATIVE KRINKIE ANNOUNCE TAX BILL

State Senator Linda Runbeck (R-Circle Pines) and State Representative Phil Krinkie (R-Shoreview) have introduced a permanent personal income tax reduction bill (HF 225/SF 261) that will lower the current rates by 1% across the board.

Runbeck and Krinkie are joined by the Minnesota Taxpayers' League, the Minnesota Business Partnership, Citizens for Fiscal Responsibility, the Libertarian Party, the Minnesota Family Council and the Twin Cities Republican Association in their call for the across the board rate reductions.

Senator Runbeck said that the goal is to add fairness to the process of reducing taxes. "Our tax cuts should be proportional to the taxes we pay, and across the board tax cuts benefit everyone."

Representative Krinkie agreed. "It seems to make good fiscal sense to enact tax cuts that benefit those who pay taxes. Cutting the rates across the board is the only fair way to address this issue."

Currently, the top 10% of taxpayers (incomes over $70,567) bear 50.5% of the income tax load. The top 33% (incomes over $40,875) pay 80%. Additionally, the state has had 7 consecutive years of budget surpluses, and could approve $876 million in tax/spending cuts and keep the budget in structural balance.

HF 225/SF 261 will be read on the floor and then referred to the respective Senate and House Tax Committees in the following weeks.

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