On Sunday, May 21, Senate Democrats passed a tax agreement that raises taxes on Minnesotans by more than $2 billion, despite a historic $19 billion surplus. This legislation fails to deliver meaningful tax relief and does not provide for the full repeal of the Social Security income tax.
On top of that, Democrats are completely abandoning charities across Minnesota and tearing down e-pull tabs. This will leave countless American Legions, children’s sports, Lions Clubs, and VFWs struggling to raise the revenue they rely on to support community initiatives across the state.
“It’s stunning that Democrats are still raising taxes by billions of dollars even though we have a $19 billion surplus,”saidSenator Andrew Mathews (R-Princeton). “Instead of giving the surplus back to hard-working Minnesotans, Democrats are choosing to have taxpayers finance their extreme one-party control agenda.Democrats on the campaign trail made promises to fully eliminate the tax on Social Security income. With the passage of the tax bill, Democrats are once again breaking their promises to Minnesotans.”
A few months ago, the budget forecast was released showing the state has a $17.5 billion surplus. This was after accounting for $1.5 billion of inflation due to a legislative policy change passed in February. Minnesota serves as one of the most heavily taxed states in the nation, and the record surplus is a direct result of this over-taxation.
All throughout the 2023 legislative session, Senate Republicans have fought to give the surplus back to hard-working Minnesotans. Republicans proposed the “Give it Back” tax plan with $13 billion over two years in permanent tax cuts, such as the full elimination of the Social Security income tax, and one-time rebates. It prioritizes getting taxpayers relief from inflation and the rising costs they are facing in Minnesotans’ everyday lives.
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