Senator Miller introduces ‘Minnesota Refund Program’
A Minnesota Republican lawmaker has introduced a plan to send a portion of future budget surpluses back to taxpayers.
Senator Jeremy Miller (R-Winona) spoke on Wednesday concerning the “Minnesota Refund Program.”
“The Minnesota Refund Program incorporates ideas that Democrats had for a one-time rebate check and incorporates ideas that Republicans had for permanent ongoing tax relief,” Miller said. “This puts a program in place to ensure taxpayers get their money back when the state has a massive budget surplus.”
Under his program, if the state had a project budget surplus in November, 75% of that projected surplus would have to be used for tax relief. If a tax relief plan using that money wasn’t signed into law by March 1, 2024, it would go back to Minnesota taxpayers directly through rebate checks.
RELATED: Latest forecast shows Minnesota budget surplus stable at $17.5 billion
Last month, the state’s latest budget forecast showed a projected surplus of $17.5 billion.
While Republicans have pushed to get permanent tax cuts in light of the massive surplus, DFL lawmakers have said the money could be used to help the neediest Minnesotans. Gov. Tim Walz, a Democrat, has also supported one-time rebate checks, although that proposal hasn’t generated much support from lawmakers in his party.
Because the DFL has narrow majorities in both chambers of the Minnesota Legislature, Miller’s plan is unlikely to be approved this session.
Click the video above to hear Miller’s breakdown of the Minnesota Refund Program.