With a $19B Surplus, It’s Time to Take the GOP’s Tax Cuts Seriously

It may be hard to fathom that just last week, the state announced a new surplus of $19 billion. Yet, despite the abundance of overtaxed funds currently sitting in Minnesota’s coffers, the DFL is fighting calls to give that money back. 

Last week, Republicans announced their own plan to do just that. According to Fox News, the $13 billion “Give it Back” plan would give a majority of the surplus back, keeping just a fraction for state use.  

From Fox News: 

“The GOP plan would use one-time money for rebate checks of $1,250 for individuals and $2,500 for joint filers, plus tax credits of $1,800 per child for the next two years. For permanent relief, it would end the state's partial taxation of Social Security income, cut income tax rates and raise exclusions for property taxes.” 

The plan itself encompasses many of the ideas already proposed by Tim Walz, with some added provisions that would help Minnesota families struggling amid economic uncertainty. 

It’s a plan that focuses on bipartisan issues and shows Minnesota voters that Republicans and Democrats can come together for the good of their families. However, with a tax and spending agenda that calls for $2.5 billion in proposed tax hikes, it’s unlikely Democrats will move for compromise. 

Read more from Fox News here.