SAINT PAUL, MN – On Monday Minnesota Management and Budget released the February budget forecast, showing a projected $9.53 billion surplus — up from the $7.75 billion surplus in the December forecast. Rep. Kristin Robbins (R-Maple Grove) released in the following statement issued the following statement regarding the report:
“The legislature must enact permanent, meaningful tax reform for all Minnesotans. A surplus of this magnitude makes it clear that Minnesota is over-taxing its citizens. Individuals and businesses, not the state, are best able to decide what is the most productive use of their money to meet their needs. Reducing what the state takes in will, in turn, help slow the growth of the government in future years.
"I support eliminating the tax on Social Security benefits and lowering the income tax rate for the lowest tier, so all Minnesotans benefit. There is no reason for the state to run a record surplus when Minnesotans and small businesses are struggling to make ends meet with rising inflation across all sectors.
"The key to long-term economic growth is having competitive tax rates that attract much-needed workers and job creators to our state. We currently have the 5th highest income tax and the 4thhighest corporate tax in the country, which makes it hard to attract and retain our greatest resource – people.
"I look forward to supporting permanent, meaningful tax reform to help all Minnesotans.”
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