Minnesota recently received more encouraging news that our economy is on the upswing.
According to data released Wednesday by the Department of Commerce, Minnesotans’ paychecks are growing at one of the fastest rates in the nation. Personal income in our state rose to $46,227 per person in 2012. That’s a 3.7 percent increase, which was the fourth highest in the entire country.
The news comes on the heels of data released a week ago showing that Minnesota gained 14,500 jobs in February. The jobs numbers cap the strongest six months of employment growth since the early 1980s.
Those numbers position Minnesota ahead of neighboring states when it comes to economic recovery, with the exception of North Dakota due to that state’s ongoing oil boom. Our progress is faring far better than neighboring Wisconsin, which recently dropped to 44th among states in private sector job growth.
The positive economic outlook comes as welcome news to all Minnesotans, but we should also take time to plan for the future so we can keep moving forward. In order to grow the middle class and create long-term prosperity, the House DFL Majority plans to produce a fair, honest budget that focuses on priorities like creating good jobs, providing property tax relief, paying back the school shift, and investing in education at every level.
Over the coming weeks, finance committees will put together their respective budgets based on the framework released last week by House DFL Leadership. The Tax Committee will be responsible for crafting legislation to pay for each budget.
As I said in a letter to the editor a week ago, no one gets excited about paying more taxes as we emerge from a recession. However, the ‘all-cuts’ approach rejected by voters last November is a bad alternative. If there’s one thing we learned in last year’s election, it’s that middle class Minnesotans are tired of shouldering the burden of our state’s fiscal challenges.
That’s why the House DFL budget framework pays for investments in education, property tax relief, and job creation with a combination of new revenue, cuts, and reforms. We will put an end to the accounting gimmicks and funding shifts used to resolve perpetual deficits over the past ten years.
A structurally balanced budget with smart investments will make sure Minnesota continues moving forward. For example, repairing our roads and bridges puts people to work, increases commerce, keeps people safe, and reduces the likelihood of drivers hitting pot holes and having to pay for costly car repairs. Investing in early childhood education and expanding affordable housing will make sure our kids have supportive, stable environments to grow and learn.
As we enter the second half of the 2013 legislative session, please continue sending me your questions, comments, and ideas. You can reach me by phone at (651) 296-0171, by email at rep.david.bly@house.mn, or by postal mail at 559 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., Saint Paul, Minnesota 55155.