Tax cuts boost revenues
To the Editor:
There were more positives than negatives to be found in Minnesota’s recent state budget forecast, which shows a $329 million budget surplus. This is roughly $517 million more than the previous projection — a $188 million deficit — made in November.
Democrats desperately told anyone that would listen last November that the sky was falling and that Minnesota’s budget was on the verge of collapse. Gov. Mark Dayton himself said we were on the precipice of a future fiscal catastrophe.
Now we have yet another surplus and middle class Minnesotans continue to enjoy the benefits of last session’s tax-relief package.
According to the state’s economic analysts, rising general sales tax projections, up by $119 million, and corporate tax projections, up $131 million, are the top reasons for Minnesota’s budget surplus projection.
The fact is Minnesota’s economy is strong and bolstered by Republican-led tax cuts at the state and federal level. We should work to keep the momentum going this session and look at ways to let Minnesotans keep more of the money they earn as their hard work is the reason we have this budget surplus in the first place.
State Rep. Bob Gunther,