ST. PAUL – State Representative Mike Benson (R-Rochester) said Minnesota’s economic condition continues to be positive, as state analysts project our state will see a $1.2 billion budget surplus for the remainder of the 2014-15 biennium.
“Considering Governor Dayton and legislative Democrats raised taxes and fees on hardworking Minnesotans by more than $2 billion last year, there should be a surplus,” Benson said. “As session moves forward, we need to find more ways to give taxpayers their money back.”
Benson said that process began on March 6, as the Minnesota House approved legislation that would repeal a number of controversial tax increases and approved several policies that would conform Minnesota’s income tax code with federal provisions. Federal tax conformity creates more deductions on state income taxes, meaning larger refunds for Minnesotans.
However, one well-known provision was not included for tax year 2013: an increased standard deduction for married join filers, which would have saved 640,000 married couples in this state an average of $112 per return.
Benson said a potential hangup in the tax elimination proposal is the Minnesota Senate, where leadership does not have an urgency to approve the legislation.
“That’s a poor message to send to struggling Minnesotans,” Benson said. “To me, eliminating these overreaching and unnecessary Democratic tax increase laws is only the first step in returning money to the taxpayers. As session moves along, I’m hopeful we will continue to find ways to return this surplus to those who created it in the first place.”