Raising Taxes with a $4 Billion Surplus
Also this week, House Democrats passed their Taxes Omnibus bill that raises taxes by more than $1 billion and faced bipartisan opposition with every single Republican voting no.
With a $4 billion surplus money flowing in from the federal government, we are in a position to help all Minnesotans who have struggled during this pandemic. Instead, House Democrats are needlessly raising taxes and refusing to eliminate state taxation on forgiven Paycheck Protection Program (PPP) loans, moves that will continue to hurt our state’s job creators.
It also creates a new income tax rate and would give Minnesota the 2nd highest income tax rate in the country. This will simply cause people, job creators, and small businesses to leave our state. We are not on an island, people and businesses can and are leaving Minnesota to more friendly climates.
These ideas will hurt our recovery out of the painful last year caused by the shutdowns of Governor Walz.
Once again, thanks to the Republican Senate, this bill has no chance of becoming law but just goes to show the misplaced priorities of the Democrat House Majority.
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