Senator Miller Introduced Bill Earlier This Week to Give Back to Minnesota Tax Payers

Sen. Jeremy Miller R-Winona

(KWNO)- Earlier this week on Wednesday, March 15, Senator Jeremy Miller (R-Winona) introduced the Minnesota Refund program, an innovative new bill that would automatically send future state budget surpluses back to taxpayers if the Legislature and Governor fail to pass tax relief.

According to a press release from the Office of Senator Miller, under this new bill, the Minnesota Refund program, if the November revenue forecast projects a budget surplus, 75% of that surplus would be allocated to the Minnesota Refund Account. The Legislature and Governor then have until March 1 to pass and sign a tax relief package into law using the funds in the account. If a tax relief bill is not signed into law by that deadline, the funds in the Minnesota Refund Account will be automatically distributed to taxpayers in the form of rebate checks.

Essentially, this idea is a way to guarantee that Minnesotans receive tax relief. As we have seen in this legislative window, party sides have yet to come to an agreement when it comes to tax relief. Miller’s proposal will ensure that, regardless of passing a tax relief bill or not, Minnesotan’s will see tax relief.

“Minnesota has had a series of massive budget surpluses, but the folks who created these surpluses haven’t seen any significant relief,” Miller said. “The state continues to over-collect from taxpayers while record rates of inflation continue to increase the cost of virtually every good and service we use. The Minnesota Refund Program incorporates ideas from Democrats and Republicans, and if passed, would put a significant amount of money back into the pockets of hardworking Minnesotans. This proposal its taxpayers first by holding the legislature and governor accountable for delivering relief to Minnesotans.”

Taking last November’s surplus as an example, had this bill, or Minnesota Refund Program, been in place, approximately $8.7 Billion would have been transferred into the Minnesota Refund Program, with about 2.2 million filers qualifying for a refund. Married couples filing a join return would have received a check of roughly $5,100, while all other qualifying filers would have received approximately $2,550.

Senator Miller is recommending the House, Senate and Gov. Walz act promptly to pass this proposal, including the $8.7 Billion that would have transferred to the account had this bill been law when the November forecast was released. Miller says the bill provides a fair and commonsense approach to handling budget surpluses, combining the best ideas from both sides of the aisle to create a plan that prioritizes taxpayers.