Republican Representative Jeremy Munson introduced a new bill, Monday, to return $4 billion to Minnesota taxpayers.
If passed into law, Munson’s “Give It Back Act” (HF2470) would return $1,000 to single filers and $2,000 to joint filers. This generous refund is to be afforded by Minnesota’s $1.5 billion budget surplus plus the state’s $2.4 billion reserve account, which would be completely returned to taxpayers by October under this law.
“We have no need to spend a dime of the surplus on more government,” Munson said, according to Action 4 Liberty. “We want the taxpayers to get that money back as soon as possible,” he added. “Democrats want to spend the money on more wasteful projects. We want families to have the money back so they can spend it on things important to them. Let’s not forget, it’s their money in the first place,” he concluded.
— Jeremy Munson (@jeremymunson) March 9, 2020
Munson believes that his bill would stimulate Minnesota’s economy. According to the representative, the reserve account represents “$2.4 billion not in our economy, waiting for a day to be spent on more government.” He also criticizes Democrats, who he says want to spend the budget surplus on “more wasteful projects.”
Minnesota amassed its large budget surplus in 2019, after a year of fruitful sales and income tax collections paired with downsized spending, reports MPR.
Munson is joined by Republican representatives Steve Drazkowski, Cal Bahr, Jerry Hertaus, Eric Lucero and Shane Mekeland who are all co-authors on his bill, which was referred to the Taxes House Committee after its introduction and first reading