Legislative UpdateThis week started bright and early on Monday with the February Budget Forecast. Every February the Department of Revenue releases its forecast for what the state’s finances will look like and help us make legislative decisions. This budget forecast shows a massive $17.5 billion surplus and this number doesn't even include the inflationary spending that is now calculated into the forecast likely putting the surplus closer to $20 billion. State government is collecting unnecessary amounts of tax dollars and yet our proposals to give the surplus back have gotten zero hearings from the majority. In response to this House and Senate Republicans laid out our ‘Give it Back’ tax plan, which in contrast to Governor Walz’ actually cuts taxes instead of raising them. A top priority is to end the tax on Social Security, something even democrats ran on during the election, but now that we want to work across the aisle to provide relief to our seniors they seem to have lost interest. Our plan also includes property tax relief for a number of Minnesotans who are impacted most because of their location or the businesses they run. The last piece of Give it Back is of course rebate checks to Minnesota Tax Payers to provide some relief as the Biden-Walz economy continues to pinch the budgets of everyone else except government. |