What Should Minnesota Do About the Surplus?

Date: February 16, 2016 Last Edit: February 17, 2016

The state’s coffers are overflowing with $1.2 billion. The debate is: Where will it go?

What Should Minnesota Do About the Surplus?

More cash is usually a good thing, but that’s about all lawmakers and residents can agree on right now. And when it comes to how to spend Minnesota’s surplus, the battle’s just beginning.

Lawmakers are divided on whether to refund the surplus, save it or spend the money on health, education and infrastructure. According to the Twin Cities Business Magazine, Speaker of the House Rep. Kurt Daudt believes the surplus should be used to craft a long-term transportation plan and enact tax reforms and reductions. House Minority Leader Rep. Paul Thissen would put the money toward funding innovations in biosciences, water resources and medical technology.

Minnesota residents are also pretty equally divided over what to do with the surplus, according to a Minneapolis Star Tribune poll, which interviewed 800 registered voters around the state. Thirty percent support a statewide refund, 30 percent call for saving the surplus, and 31 percent believe it should be spent.

Thirty-eight percent said that fixing the roads should top the list of action, according to the poll. Moving down the list, though, voters are split on whether health and social problems or public schools should be a priority for state spending.

NFIB/Minnesota State Director Mike Hickey believes the surplus is an opportunity to help small businesses in the state. “The time to enact tax reforms and reductions is when you have a large surplus,” he said in a statement.

Another underlying element: Gov. Mark Dayton has credited the surplus to Minnesota’s healthy economic performance, but many House Republicans feel it’s a case of overtaxation and are calling for cuts.

Either way, what would you do with the surplus? Share your thoughts with NFIB, and be the voice for small business in Minnesota.

Related Content: Small Business News | Economy | Minnesota

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