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Davids




Hello from St. Paul,

 

With Minnesota’s February forecast just days away, state economists will soon unveil whether too much money has once again been taken from state taxpayers. Under legislation I’m supporting, any future surplus would be returned to Minnesotans – guaranteed.

 

Two years ago, Democrats squandered a record $18 billion surplus and raised taxes by an additional $10 billion, and you were lucky if you received $260 in a tax rebate. This legislation would let Minnesotans have a say as to whether they want to prevent this nonsensical waste from ever happening again.

 

The plan would ask voters whether to amend the Constitution to guarantee future budget surpluses are returned to the taxpayers. If approved, a Minnesota tax relief account would be established. Any projected revenues that go over 5% of projected expenditures according to the last biennial budget forecast will be used to fund the account and those revenues would be returned to the taxpayers via refunds.

 

The funds deposited in the account will not be taxable under Minnesota law, nor can they be used to offset the cost to the state general fund for any tax reductions made by the Legislature. Only income and property taxpayers in Minnesota would be eligible for a refund.

 

Any time there is a surplus, the Legislature has to decide what to do with it. This bill takes all the guesswork out if it by saying it must be returned to overcharged state taxpayers.

 

Have a good weekend,

 

Greg









2214 Centennial Office Bldg.
658 Cedar Street
St. Paul, MN 55155
651-296-9278
[email protected]







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