Dear Neighbor,
On Thursday, December 5, the Office of Minnesota Management and Budget (MMB) released the November Economic Forecast showing a $1.086 billion surplus for Fiscal Year 2014-2015.
This figure stands in stark contrast to the budget put into place by the Republican-controlled legislature in 2011. That budget produced a surplus of $3.46 billion without raising taxes. Meanwhile, under this new budget, Governor Dayton and Democrat legislators raised taxes by $2.1 billion that featured new taxes on income, internet purchases, equipment repairs, cigarettes, warehousing as well as an increase in the death tax.
And how will your money collected from this historic tax increase be spent? One shining example is the $90 million new office building for state senators! Also, let us not forget the pay raises for statewide officeholders!
Ultimately, the forecast presented by MMB presents many questions. One big question is how will Obamacare affect our budget given the fact that its costs were not factored into the forecast? With the historic tax increases Democrats imposed upon hardworking Minnesotans, it’s possible we’ll see some volatility as we figure out how much tax revenue our state is actually able to collect.
As we hear Democrat legislators and Governor Dayton celebrate taking more money out of your pocket, my top priority continues to be protecting the family budgets of Minnesotans.
As always, I am interested in your feedback. Please feel free to contact me by e-mail at Rep.Kathy.Lohmer@House.MN or contact my office at 651-296-4244. You can also send mail to my office address: 239 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.
Sincerely,
Kathy