Feb 252014
 

The Minnesota Legislature begins its 2014 session today. Governor Dayton is calling it the “Unsession” because he wants legislators to focus on repealing and cleaning up old, outdated statutes. But legislators will probably be more focused on passing a bonding bill, raising the minimum wage, and repealing some of the tax increases enacted last year.

This is an election year, so lowering taxes will be a popular cause on both sides of the aisle. If the February budget forecast shows another substantial surplus, cutting taxes may be a reasonable policy. Still, no legislator should want to return to the days of budget instability and the fiscal gimmickry that accompanied it. Any desire to cut taxes in the short-term should be balanced against legislators’ responsibility to ensure that the state is on sound financial footing.

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