Senator Jerry Newton: Middle-Class Taxpayers Are My Priority for State Tax Reform
Our tax system should work for everyone, and it should grow the middle class. It’s the reason why as a state representative I voted for a 2% income tax increase on the wealthiest 2% of wage earners to balance our state budget and pay for important services like universal all-day Kindergarten.
As a result, we restored fiscal stability after a decade of deficits and prevented income tax increases on 98% of Minnesotans. Greater fairness in our tax system allowed us to freeze tuition for college students and give them more financial aid. It allowed us to provide property tax relief to families and businesses. And it allowed our state to maintain a strong credit rating that allows us to receive good rates when we borrow money for capital investment projects such as improvements to the Anoka Ramsey Community College and the Blaine National Sports Center – projects I am proudly sponsoring this year.
Now, as a state senator, I find myself once again taking a hard look at adding more fairness to our tax system. With the sweeping federal tax changes approved late last year, it is imperative that the Legislature take action to align, or “conform,” or state tax code to those changes. If we do not act, many Minnesotans will pay a bigger tax bill next Spring.
Governor Dayton earlier this year put forth a strong tax plan that reflects our Minnesota values. More than two million Minnesotans would receive a tax cut (over two-thirds of filers); about 1.9 million families would receive an average tax cut of $177 through a Personal and Dependent Tax Credit; and about 329,000 families would receive an average tax cut of $160 through the Working Family Tax Credit.
For more information, please email me at email@example.com or call my office at (651) 296-2556.