More irresponsibility from the MNGOP: Using accounting fraud to “pay” for their latest tax giveaway
There is no limit to the fiscal fraud the MNGOP is willing to perpetrate in their quest to bestow ever-greater handouts on the rich and powerful. They’ve already put us billions of dollars in debt to keep taxes on the super-rich low. Now they want to increase the deficit even further for yet another giveaway. But it gets even worse. They can’t pay for their new tax cut for the rich, so they’re just planning to commit accounting fraud to “pay” for it:
In the tax bill, Republicans are betting that the economy will continue to improve, which would mean more tax revenue to the state.
The plan directs Minnesota Management and Budget to book higher than expected tax collections from February and March to pay for the changes. Typically, lawmakers rely on the February revenue forecast as they make tax and spending decisions, not the partial information that comes from monthly tax reports….
The bill would also pit tax cuts for businesses against school funding. That’s because current law says any surplus money from the November forecast would be used to pay back a K-12 school payment delay. This bill short-circuits that process by capturing tax revenue that hasn’t been recorded in the forecast yet.
This is just insane. Minnesota Republicans are out of control. No wonder they’re being evicted — they should never, ever be trusted with our state’s budget again.




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