|
Hello from the State Capitol,
Minnesota’s February forecast is just days away, and state economists will soon announce whether too much money has once again been taken from state taxpayers by their government.
Current law allows the Legislature to dictate how surplus funds should be utilized, but I am authoring a bill this session that would give voters the final call.
I believe over-collected taxpayer money should always be returned to the taxpayers. I also believe most Minnesotans agree that government shouldn’t be spending money that rightfully belongs to taxpayers, and this bill would prevent future budget surpluses from being wasted.
Two years ago, Governor Walz and legislative Democrat-leadership squandered a record $18 billion surplus and then raised taxes by an additional $10 billion. Many residents were expecting permanent and significant tax relief, but once Democrat leadership blew through the surplus, Minnesotans were lucky if they received a one-time check of $260, which was then subject to state taxation.
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.
If this bill is approved and voters are allowed to have their say, Minnesotans can decide whether a surplus should automatically be returned to the taxpayers, or to continue letting lawmakers decide how much of it they should spend.
LOCAL VISITORS
Members of the Worthington Baptist Temple stopped in to see me on Tuesday. I am thankful for the time they spent with me today and the prayers offered for the legislature.
Minnesota Sheriff’s Day at the Capitol took place this week. I was able to meet with Nobles County Sheriff Ryan Kruger.
As well as Jackson County Sheriff Shawn Haken.
Representative Joe Schomacker and I also met with a local group representing the Coalition of Greater Minnesota Cities.
Attendees included Slayton City Administrator Josh Malchow Slayton Administrator, St. James Mayor Chris Whitehead, Mountain Lake Mayor Michael Mueller, Windom City Administrator Steve Nasby, and Slayton Mayor Miron Carney.
Thanks to all for stopping by!
Have a good weekend,
Marj
|
