Friends and neighbors,
This week, Minnesota’s office of Management and Budget (MMB) released its February revenue forecast, which showed a surplus of about $19 billion.
We have a massive surplus, yet Minnesotans are still getting squeezed by inflation. This is just plain wrong. Inflation is higher than it has been in decades, and Minnesota continues to take too much from taxpayers. Almost every day, the number one thing I hear is ‘give the surplus back.’ It has to be our number one priority.
That is why Republicans unveiled our plan to give back the surplus. Our plan provides you with relief for today and tomorrow through a combination of permanent income tax cuts, property tax relief, and direct rebate checks. It also fully eliminates the tax on Social Security benefits, which is long overdue, and provides a child tax credit to help young families.
Teaching students the basics of personal finance
Understanding personal finance is crucial for students to have successful futures. It is a critical life skill that every student should have. Unfortunately, many students graduate high school without basic knowledge of personal finance.
This week, the Education Policy Committee heard my bill to require Minnesota high school students to pass an online personal finance class in 12th grade as part of their graduation requirements. The course would cover topics such as creating a household budget, taking out loans and accruing debt, how interest works, home mortgages, how to file taxes, the impact of student loan debt, and how to read a paycheck and payroll deductions.
We have to do a better job equipping our students with the tools they need to make smart decisions about their financial futures. It’s great for students, our communities, and our state as a whole.
Seventeen states already require personal finance education for high school graduation, and additional states integrate personal finance coursework into other classes.
Contact me:
If you have any questions about any of these issues or any other issue the legislature is working on, please don’t hesitate to contact me any time. My email is Sen.Rich.Draheim@Senate.mn, and my phone number is 651-296-5558.
And please follow me on Facebook here: https://www.facebook.com/SenatorRichDraheim/
It is a privilege to serve you.