Dear Neighbors,
This morning, Monday Minnesota Management and Budget (MMB) released the February budget forecast, showing a projected $9.25 billion surplus — up from the $7.75 billion surplus in the December forecast. The report said that a higher income, consumer spending, and corporate profit forecast resulted in an improved revenue projection.
Additionally, the report cautioned that uncertainty due to inflation and geopolitical conflict could pose risk to the state’s budget and economic outlook.
Today’s news makes clear what I’ve been saying for months—Minnesotans are overtaxed and in dire need of significant tax relief.
Moving forward, I will be advocating for a robust tax relief bill that includes ending the state’s social security tax, restoring the unemployment insurance account, and many more initiatives that will put more of your hard-earned money back in your pocket.
I support the Minnesota Senate Republicans’ tax bill that would deliver a $8.51 billion tax cut to Minnesotans—the largest tax reduction in state history. It’s time to move Minnesota out of the top 10 highest taxed states in the nation.
Stay tuned for more on this as the legislative session continues.
Staying in Touch
Please do not hesitate to reach out to me to share your thoughts, questions, and concerns as it relates to state government. I can be reached at 651-296-4229 or via email at rep.glenn.gruenhagen@house.mn.
Have a great day,
Glenn