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McDonald




Greetings,

Raising taxes by $10 billion and increasing state spending by 40 percent, as Minnesota's one-party rule did earlier this year, has consequences and our state's string of multi-billion dollar surpluses is now kaput.

A new economic forecast issued for our state Wednesday shows a possible shortfall looms in the biennium starting in July of 2025. In other words, in a mere six months Democrats turned a $17.5 billion surplus into a potential shortfall on Minnesota's horizon.

As a Star Tribune columnist put it [ [link removed] ]:

""This gap between the growth of the state economy and the growth of state government spending, as I noted earlier this year, has no precedent in the modern-day budgeting of the Minnesota government that began in 1960. That should have been a signal for prudence.""

This underscores the need for balance in St. Paul. One-party rule under Democrats has put our state budget so far out of balance that even their record tax increases may not be enough to cover their spending spree.

We simply cannot force Minnesotans to pay another dime to cover up for one party?s irresponsible spending. To the contrary, tax relief should remain a top priority for the 2024 session ? along with wise spending adjustments to strengthen our state?s long-term outlook. But, again, we need more balance in St. Paul to provide Minnesotans with the responsible budget decisions they deserve.

Watch for more as things unfold in preparation for the 2024 session to start in February. We also will receive an updated economic forecast around that time and it will be interesting to see what develops between now and then.

Until next time, please stay in touch and let me know how I can help.

Regards,

Joe






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State Rep. Joe McDonald
241 State Office Building
100 Rev. Dr. Martin Luther King Jr. Blvd St. Paul, MN 55155
[email protected]
(651) 296-4336







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