$2 billion tax relief with key investments in education, aging services and transportation
Saint Paul- House Speaker Kurt Daudt (R-Crown), House Majority Leader Joyce Peppin (R-Rogers), and House Ways & Means Committee Chairman Jim Knoblach (R-St. Cloud) announced the House Republican budget targets Tuesday with a focus on bringing government spending closer in line with family budgets.
The targets released Tuesday prioritize $2 billion in tax relief for Minnesotans, invest in E-12 Education and Higher Ed and dedicate $100 million more in budget reserves. Overall, the Republican budget target is $39.949 billion, a 1.7 percent increase over the current biennial budget.
“Government spending should not grow faster than family budgets. We set our budget targets with that value in mind and aimed to prioritize education, roads and bridges, and protecting our aging Minnesotans’ quality of life. And while the state has a budget surplus, most Minnesotans are not seeing a surplus in their own budget, which is why we’re putting $2 billion back in the hands of hardworking taxpayers,” said Speaker Daudt.
“Minnesota families prioritize within their budgets every day. It’s common-sense they would expect the same from state government. Our budget targets reflect streamlining in some areas and investments in others. We’re proud of our decision to prioritize our childrens’ education from grade school through college, transportation needs across the state, and caring for our aging loved ones,” added Majority Leader Peppin.
“Our budget targets will serve as the framework for our members as they work to reduce wasteful spending and make smart budgeting choices. The overall target goes a long way to bring growth of government more closely in line with Minnesotans' household budgets. We also acknowledge that while Minnesota is in an economic recovery, it's a fragile recovery. In uncertain financial times, it's a wise decision to save additional dollars in budget reserves,” said Chairman Knoblach.
Tuesday’s budget target announcement comes on the heels of Republican legislative leaders’ announcement of their comprehensive, future-oriented proposal for transportation in Minnesota: the Road and Bridge Act of 2015 (House File 4). The plan invests $7 billion more into transportation over the next decade without raising taxes.
The budget resolution, containing the targets, will be adopted Tuesday evening in the Ways and Means Committee and will serve as the framework for Finance Committees as they construct their budgets.
-30-