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Legislative News and Views - Rep. Kurt Daudt (R)

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RELEASE: House GOP Leadership provided check on Dayton, DFL spending

Friday, February 26, 2016
SAINT PAUL, MN—The Office of Management and Budget (MMB) released their February Economic Forecast Friday, revealing a projected surplus of $900 million for Fiscal Years 2016-2017. This represents a small decline from the November budget forecast due in part to a slower growth in the U.S. economy and lower consumer spending.
 
"After today's forecast, I'm glad House Republicans provided a check on Governor Dayton and the Senate DFL,” said House Speaker Kurt Daudt (R-Crown). "Without House Republican leadership, Democrats would have spent every penny of our surplus, and our state would be staring down a budget deficit. In this upcoming session, we need to focus on what matters: middle class tax relief and roads and bridges."
 
According to Minnesota Management and Budget, “the sales tax shows the largest dollar amount decrease for FY 2016-17 from the prior estimate, $311 million (2.8 percent). This change reflects lower than expected sales tax receipts so far in FY 2016, the base for this forecast, and weaker projected taxable sales growth in calendar year 2016 and the first half of 2017.”
 
"Minnesota families have watched as their hard work has produced surplus after surplus for state government," added House Majority Leader Joyce Peppin (R-Rogers). "Part of the adjustment in the projected surplus is a result of lower consumer spending. While Democrats talk about raising the gas tax, our focus will be on middle class tax relief and giving families a break so they can spend their own money and strengthen Minnesota's economy."
 
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