Accessibility menu
State Representative Paul Thissen
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-5375
For more information contact: Michael Howard 651-296-8873
Press/News Releases
DFL introduces plan to fully pay back kids on House floor
Saint Paul, Minnesota – House DFL legislators introduced a plan on the House floor today that would phase in a full pay back of $2.4 billion in state “IOU’s" to Minnesota schools. The plan was introduced as a “minority report” to the GOP bill that would drain 2/3 of the state budget reserves for a partial, one-time payback. The DFL plan would pay back our schools by closing corporate tax loopholes that allow businesses to hide profits overseas. House Republicans used procedural moves to stall the minority report on a party line vote and refused to debate the DFL plan to pay back our kids.
“It is a simple choice,” said House Minority Leader Paul Thissen (DFL – Minneapolis) “We can be serious about paying back our kids - and to fully pay them back - or we can continue to protect tax breaks for corporations that park their profits overseas. Republicans made the wrong choice. They continue to put corporations and wealthy special interests ahead of Minnesota kids.”
The Republican budget passed after their state shutdown ran up a nearly $3 billion debt to Minnesota schools. Thissen said Republicans have shown a new found interest in covering their tracks, but continue to pursue irresponsible budgeting as a means to pay down our state’s debt. Their bill would take about $400 million in one-time cash from the state’s budget reserve – potentially forcing the state in to more short term borrowing, according to the Office of Minnesota Management and Budget. Their plan also doesn’t account for about $2 billion in ongoing “IOU’s” to Minnesota schools.
“It is apples and oranges when it comes to our different approaches to paying back our kids, and the Republican plan is rotten,” said Thissen. “The DFL plan uses a fiscally responsible source of revenue to fully pay back our schools while the Republican plan leaves $2 billion in debt. Worse, the Republican is choosing to play the same shell-games that plagued your last budget - moving money from one account to another in an election year ploy to cover their tracks. Their plan is fiscally irresponsible and utterly incomplete.”
The DFL would pay for their plan by closing corporate tax loopholes that allow big businesses to shelter profits in about 30 different countries including Aruba, Bahrain and the Cayman Islands.
“All we are saying is that corporations should play by the same rules as our small businesses on Main Street,” said Thissen. “We’re dedicating these funds in an ongoing manner until we can fully pay back our kids. It’s fair, fiscally responsible, and a priority that Minnesotans broadly support.”
After stalling the DFL “minority report,” Republicans moved their education bill to the House Ways and Means committee.
###
News Items
- Speaker Thissen to Establish Select Committee on Controlled Substances and Synthetic Drugs - (Posted: May 29 2013 1:15PM)
- Minnesota House Finishes 2013 Session with Balanced Budget, Historic Investments in Education, Job Creation, Property Tax Relief - (Posted: May 21 2013 12:44AM)
- Governor Mark Dayton & DFL Legislators Hold Invest in Education “Pep Rally” with Minnesota teachers, parents and students - (Posted: Apr 21 2013 4:21PM)
- Archived News Items
- Subscribe to RSS News Feeds
- Read more about RSS.