Rep Kurt Daudt (R-Spectacle Lake) and the Old House Republican Caucus announced their plan to spend, or retain in the government coffers, nearly $3 Billion of the $4 Billion budget surplus in Minnesota. A surplus is the amount of money that the state government has overtaxed us by. The vast majority of the surplus is sitting in a government reserve account. They announced tax relief of $1 Billion total and proposed expanding a refundable tax credit.
There are a few things to like about the plan they released like conforming with federal 179 deductions. They also want to permanently eliminate the state income tax on social security. But why are they calling for these things now when they're in the minority? And why are they doing it in a non-budget year when there is even less of a surplus? Action 4 Liberty has been calling for the elimination of social security for the past four years.
It's important to note that the Old House Republican Caucus is not willing to give all of the surplus back to taxpayers. Government is fully funded for two years (something that Tax chairman Davids admits in the press conference), yet they still want to spend $500 Million more on government spending.
Action 4 Liberty calls for the whole surplus to go right back to taxpayers. Not a dime more should be spent on government.