Friends and neighbors,
This week at the Capitol, Minnesota’s Department of Management and Budget released its annual February revenue forecast, which provides information and an outlook for our state’s financial picture. The report shows the surplus holding steady at $17.5 billion, with inflation accounting for $1.4 billion going back into state spending automatically.
Meaningful Tax Relief for Minnesotans
In the second half of session, my fellow legislators and I will use this financial information as we work to craft our state’s next two-year surplus. And I strongly believe that a significant portion of our surplus must be used to provide financial relief to hardworking Minnesotans.
The news that our state has such a massive surplus signals that Minnesotans are being harshly overtaxed. Government funds may be holding strong, but this comes at the expense of taxpayers who continue to struggle to afford everyday life under heavy inflation. It’s long overdue to give this money back through permanent, ongoing tax relief.
And one important way we can provide this relief is through the full repeal of the Social Security income tax. This is a policy that I have been pushing for years, and one that I know many in our community are supportive of. And I am pleased to share that the Senate Republican tax plan includes this full repeal.
In response to the astronomical $17.5 billion surplus, Senate Republicans unveiled our ‘Give It Back’ tax plan to provide $13 billion over two years in permanent tax cuts and one-time rebates. In addition to the full repeal of Social Security income, highlights of our plan include:
- $5 billion in rebate checks
- A one-time $1,800 child tax credit available for two years
- Reduction of the first and second-tier rates by 1%
- Property tax relief through increases in homestead market value exclusion
Constituents at the Capitol
A highlight of my day is always when members of our community visit my office at the Capitol. And this week, I had the privilege of meeting with two student groups from Rockford and Buffalo who attended FFA Day at the Capitol. FFA is truly an amazing program that provides unparalleled leadership, personal growth and career success training through agricultural education. I was particularly inspired by the personal stories each student shared about the amazing opportunities their involvement with FFA has afforded.
Additionally, I had the opportunity to meet with a great group of Monticello and Buffalo members of the Minnesota Landscape and Nursery Association. We discussed ending harmful business practices pertaining to subcontractors in SF 754, and the organization’s concerns with HF 1715–prohibiting the sale of nonelectric-powered lawn and garden equipment.
My office is always open to constituents, and next time you’re in St. Paul, I invite you to set up a meeting!
Contact My Office
I want to hear from you, my constituents, on issues that are important to you. Please feel free to reach out to my office with any concerns or ideas you may have. I will continue to keep your thoughts and concerns in mind as legislation comes before me. You can contact my office at sen.bruce.anderson@senate.mn or 651-296-5981.
Sincerely,
Bruce Anderson