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Dear Friends,
This week the House approved the largest bonding bill in the state?s history ? nearly $2 billion. Normally, bonding is passed in the second year of the biennium, but a bill was not passed last year so the DFL majority moved to act early this legislative session.?
Remember: Minnesota has a record $17.5 billion surplus. By design, bonding projects require the state to borrow money to cover their costs. I could not vote for the largest bonding bill in MN history when we already have the largest budget surplus in MN history. Borrowing money when the state is flush with cash is not fiscally responsible nor is it respectful of taxpayers? dollars. We should have focused on returning the surplus to hardworking Minnesotans before we considered this bonding proposal.?
This week is first deadline, which means that any bills that will be moving forward this session must have a hearing by this Friday. I am pleased to report that the Taxes committee will be hearing two bills that would provide meaningful tax relief for our seniors ahead of first deadline. Today, we will hear HF 300 and HF 1040, both of which deal with the tax on social security in some form.?HF 300?would fully eliminate the social security tax, saving seniors an average of $1,276.?HF 1040?is the Governor?s proposal, which would only provide tax relief for 43% of Minnesotans on social security, averaging just $278 per household in savings.?
Minnesota is one of just twelve states that still taxes social security benefits. With a nearly $18 billion surplus, it?s time we end this unfair double taxation on benefits that our seniors have earned. I will continue to work on legislation that fully eliminates the tax on social security and other bills that provide more tax relief for all Minnesotans, including direct relief checks.
I had a great visit on Wednesday with parents from Lakes International Language Academy in Forest Lake (pictured below). As a member of the Education Finance committee, it?s a priority of mine to ensure that every school in Minnesota ? public, private, or charter ? has the resources they need to ensure that every child is able to excel to the fullest extent possible.
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