St. Cloud Sun

The State of Minnesota has met its rainy day standard and Rep. Andrew Mathews (R-Milaca) said the extra money should go to the public, not back to the government. 

The Minnesota Management and Budget office recently released its February economic forecast and it projects a $1.513 billion surplus. 

The surplus is too high not to return to the voters, Matthews said.

Senate Republicans came up with Get Your Billion Back, Minnesota, to ensure taxpayers reap the benefits of the surplus. Get Your Billion Back would utilize tax plans intended to make things easier for taxpayers by ensuring funds go to things that benefit and improve the lives of citizens, according to the Minnesota Republican Caucus. 

Gambling may seem like an unlikely thing to consider in terms of community benefit, but seeing that more of the money brought in from gaming goes to the actual charities and/or groups that are sponsoring it is worth implementing. Most of the proceeds currently go to state taxes. 

Boosting affordable housing programs by redirecting more mortgage and deed tax revenue, and reducing property tax classification rates are obvious ways to give taxpayers a leg up. 

Property owners in school districts in areas with less property wealth would see some tax relief, and small businesses would also benefit. Business owners would have more opportunities to deduct large equipment purchases.

People who receive Social Security income would see more money. The plan would shelf the tax on Social Security income for retirees. Only 12 other states currently tax retirees who receive Social Security income.

Parents of school-aged children would get some relief, as well. More parents would qualify for and some will see more savings on their tax returns if the K-12 tax credit is expanded.

And finally, every taxpayer in the state would benefit from a lower income tax rate. This move would especially help low- and middle-income workers.