Dear Friends and Neighbors,
This morning the Minnesota Management and Budget Office (MMB) announced the latest budget surplus, now a whopping $9.25 billion in tax over-collection!
Rep. Lucero attending the Metropolitan State University breakfast at the Capitol Friday last week. “As a proud Metro State alumni, my remarks on the panel included my having to go to college as a post-marriage working adult, being a 2001 law enforcement graduate, a 2007 computer forensics graduate, and a computer security instructor for the five years immediately preceding being elected to the Legislature,” Lucero said. “I was honored to meet Mei who came up and introduced herself to me after the panel discussion stating she is currently in the computer science masters program and that my words were inspiring to her as she looks to start her career after she completes her degree next year. I told Mei SHE is the inspiration and that I'm excited for the incredible opportunities that await her!”
PRESS RELEASE
Rep. Lucero: Soaring state surplus demands permanent, meaningful tax relief
Minnesota’s budget surplus continues to see government flush with mountains of extra cash. Conditions remain ripe for permanent tax relief at a time people are facing higher costs in all areas of their lives.
Minnesota Management & Budget (MMB) issued its February economic forecast Monday and it projects a $9.3 billion biennial surplus. That figure is up $1.5 billion from the already historic $7.7 billion surplus projected last November. State officials indicate “A higher income, consumer spending, and corporate profit forecast results in an improved revenue projection while spending is slightly lower in E-12 education and Health and Human Services.”
The state already is fully funded for the biennium, meaning robust tax relief should be in store with the state’s whopping excess revenue.
Individuals, families, and businesses across our state are hurting due to skyrocketing price increases. The Democrat tax-and-spend agenda combined with the Biden inflation has created crushing prices for gasoline, food, energy, housing, and almost everything else. Government has plenty of extra cash from high taxes while good people are suffering.
In its report, MMB also indicates the structural balance in the FY 2024-25 planning estimates remains positive and largely unchanged from November.?It also says uncertainty due to inflation and geopolitical conflict pose risk to the budget and economic outlook.
Rep. Lucero with colleague State Reps. being recognized for having the top constitutional voting records at the Legislative Evaluation Assembly of Minnesota (LEA) annual dinner Tuesday last week. “I’m among those on the front lines in the Legislature fighting for truth and constitutional values,” Lucero said.
HIGHER PRICES / UI REMAIN UNRESOLVED
The governor, House Republicans, Senate Republicans, and Senate Democrats all have supported full repayment of our state’s depleted unemployment insurance fund that resulted, in part, because of excessive restrictions the governor placed on businesses. Senate Republicans already passed a bipartisan bill to resolve this issue, but House Democrats are dragging their feet and playing partisan games with this issue. Their proposal is not a real solution and would mean six years of tax increases on businesses, per the MN Department of Employment and Economic Development (DEED).
Glaring examples of the tax increases our businesses face over this issue put things into context: "Andy Wilke of Greater Mankato Growth said he’s heard of a local bank that would see its unemployment insurance tax rate increase by 130% — meaning the bank would pay another $21,000 this year. Another local business would see its taxes raised from $6,000 to $32,000. And a local wholesaler would get an extra $12,000 on its tax bill this year." The full article can be found the following link here.
Great food and fellowship Wednesday last week meeting friends State Rep. Cal Bahr and Pastor Ted Clarke for lunch at Big Bore Barbecue in Hanover and supporting our local businesses!
STAYING IN TOUCH
Each and every day I’m continuously humbled at the opportunity to represent and fight for the values and priorities of our great community!
Please contact me to share any issues, concerns, or feedback you have to assist me best represent you. The best way to reach me is by email at Rep.Eric.Lucero@House.MN or by phone at 651-296-1534.
Sincerely,
Eric Lucero
State Representative District 30B Albertville, Hanover, Otsego, Saint Michael, and the Wright County portion of Dayton