The midway point of the legislative session is just around the corner and the big news of late is we received an updated report on the state’s economy with information that will be central to setting a new two-year state budget.
Here is more on that, along with some other jottings:
Sign up for TeenPact event
Registration is now open to for a pair of TeenPact classes next month at the Capitol in St. Paul as students from around the state gather for a week of hands-on training in leadership and government.
TeenPact is a nationwide Christian non-profit educational ministry, known for its teen-oriented programs on leadership, citizenship, and government. It designed to help students understand the political process, value their liberty, and engage the culture. Through hands-on and practical teaching, TeenPact Students learn how to embrace their call as the next generation of leaders, find encouragement among like-minded peers, and develop the skills to engage the culture.
A four-day class will take place April 24-28 for ages 13-19. A one-day class for ages 8-12 is scheduled for April 29. The class for ages 8-12 is a condensed version of the class for the older group. Students will pray for their leaders during a prayer walk, explore the State House, become legislators in a mock legislature where they discuss bills they’ve written themselves, and more. Additional information and registration details are available at teenpact.com/minnesota.
$17.5 billion surplus
We received a new economic forecast from Minnesota Management & Budget, projecting a $17.5 billion surplus for the new biennium.
The bottom-line surplus figure remains in line with the last full forecast, issued in early December, with one key difference: This one was adjusted to factor for inflation for the first time in decades. The net result is, using the same metrics that were used in November, the forecast would have called for a $19 billion surplus.
That’s a long way of saying this forecast is further evidence our state continues to over-collect from taxpayers at a time Minnesotans are struggling with price increases across the board. We need to put an end to this ongoing trend by providing significant, permanent tax relief that will allow people to keep more of their hard-earned money while getting the state to quit this habit of taking in far more revenue than it needs.
We also need to improve our tax climate for workers in Minnesota, especially as they face negative consequences for bills the House majority is pushing this session. This tax relief should be directed at people who are paying taxes in order to boost jobs and our economy instead of simply redistributing dollars as the governor and other Democrats are looking to do.
House and Senate Republicans recently conducted a press conference to unveil our “Give It Back” tax plan, which provides $13 billion over two years in permanent tax cuts and one-time rebates.
The package features tax relief benefiting Minnesotans both now and in the long-term, including:
- Lower first and second tier rates
- Full elimination of Social Security tax
- $1,800 tax credit per child
- Property tax relief
- $5 billion in rebates
With a $17.5 billion surplus, if we can’t give tax relief to Minnesotans now, when can we?
Until next time, your input is welcome and let me know how I can help.