Hello from the State Capitol,
Minnesota’s latest budget forecast found a surplus that has now grown to a record high.
On February 27, economic experts projected Minnesota now has a $17.5 billion budget surplus. This takes into account the $1.6 billion in increased spending that has already been signed into law, as well as inflation which is estimated at $1.42 billion.
With the surplus numbers now solidified, the House majority will be crafting its spending bills for every area within state government using available money that has been determined through the budget forecast.
Knowing Minnesota has plenty of available revenue, there is also no excuse to stop the unfair state taxation on all senior citizens’ Social Security benefits. Yesterday, House Republicans attempted to expedite Social Security tax relief on the House floor, but despite bipartisan support, the DFL majority opposed it. I find this frustrating when you consider that many House Democrats told their constituents on the campaign trail that they fully supported Social Security tax relief for all Minnesota seniors.
The Democrat chair of the Senate tax committee is on record saying she strongly supports 100% Social Security tax relief for 100% of Minnesota’s senior citizens. Hopefully, she can help convince her colleagues in the Minnesota House to get on board. This is a plan that should be approved in overwhelmingly bipartisan fashion, yet I’m concerned it won’t happen despite a $17.5 billion budget surplus.
Talk to you soon,