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Minnesota budget: $1.3B surplus projected

Swedzinski and Dahms encouraged by budget forecast

Minnesota Gov. Tim Walz comments on the State of Minnesota November Budget and Economic Forecast in St. Paul, Minn. on Thursday, Dec. 5, 2019. (Scott Takushi/Pioneer Press via AP)

Rep. Chris Swedzinski, R-Ghent, credited Republican-led tax cuts that are “helping our economy soar” for Minnesota’s $1.3 billion projected surplus.

“Our state’s reserve account is now fully funded at nearly $2.5 billion and tax relief should be a top priority for the 2020 session. We could start by repealing the Democrats’ tax on health care they insisted on extending earlier this year. We also need to fix the Section 179 depreciation issue where farmers and other business owners are getting walloped by state income taxes. In any case, tax increases should be non-starters this session,” Swedzinski said in a statement Thursday.

Sen. Gary Dahms, R ’ Redwood Falls, stressed fiscal responsibility in his statement Thursday.

“I am encouraged by the budget forecast, which shows the state of our economy is strong. We must approach the budget surplus with a responsible mindset. When the legislature convenes in February, I am optimistic we will consider policies that will benefit Minnesotans including social security tax reductions for senior citizens, section 179 tax relief for farmers, school safety improvements, road and bridge improvements and expansions, and a responsible bonding bill,” Dahms said.

“My colleagues and I will continue to lead on middle class tax relief and responsible spending that funds Minnesotans’ priorities but does not grow government or inflate our already massive budget,” he said.

Minnesota Chamber President Doug Loon also released a statement after the state announced the projected surplus.

“Minnesota has now had seven consecutive years of budget surpluses, a clear indication that more dollars need to remain in the pockets of families and businesses,” Loon said. “Today’s forecast presents an opportunity for policymakers to enact reforms to best position Minnesota for a strong and growing economy.”

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