Executive Summary: Minnesota's Budget Surplus

Executive Summary: Minnesota's Budget Surplus

by | Mar 3, 2016

The conservative effort to use the entire budget surplus to reduce state taxes—often referred to as the “give it back” campaign—is based on the premise that state revenues and expenditures have increased dramatically and thus all legitimate state expenditure needs...
Minnesota's Budget Surplus: Balancing Tax Cuts and Investments

Minnesota's Budget Surplus: Balancing Tax Cuts and Investments

by | Mar 3, 2016

I. Introduction Last March, a group of legislators gathered at the State Capitol with a simple message: “Give it back!” The “it” refers to the state budget surplus, then projected to be nearly two billion dollars for the upcoming fiscal year (FY) 2016-17 biennium....

I Sing the Tax Act 2013

by | Feb 22, 2016

Of all the legislation enacted in recent years, few have aroused as much passion as chapter 147 of the 88th legislative session: the 2013 omnibus tax act. Thus, it is fitting that North Star’s inaugural fiscal policy article should focus on this historic law. To some,...

Minnesota Earns High Marks for Fiscal Responsibility

by | Aug 2, 2018

Last week, Standard & Poor’s (S&P) upgraded Minnesota’s  general obligation (GO) bond rating to “AAA”—its highest ranking. Minnesota became one of only thirteen states to enjoy a AAA GO rating from at least two of the “big three” credit rating agencies...

Tax Triggers: An Unnecessary Fiscal Autopilot

by | May 1, 2018

At least officially, Minnesota’s general fund is projected to have a budget surplus in the current and upcoming bienniums. Conservatives have proposed a “tax trigger” that would automatically reduce state individual and corporate income taxes whenever such a surplus...