State economy bears watching
To the editor:
Recent letters reflect the importance of continued government investment in our state’s economy. The good news about our state’s improving economic picture and resulting revenues to the state treasury are tempered by the governor’s withdrawal of business-to-business taxes from the state’s revenue proposals.
Nevertheless, the emphasis on adequate K-12 funding this year and progress on repayment of borrowed money from school funding are good news. The proof of that pudding will be the size of classes this coming fall. Failure to prime the economic pump with a good education makes any recovery short-lived.
Other essential elements include ongoing funding for road and bridge repair, continued emphasis on transit development, innovative public-private partnership in areas like housing, job and business development, and help on property taxes for low-income seniors and other vulnerable people.
As the economy continues to improve, there may come the cry about how we should “return the money to the taxpayers.” I hope we can consider the value of a state rainy-day fund so can retain solvency while not endangering the state’s bond rating. Over time, this has been one of the bigger challenges facing our state. With judicious watchfulness, we can shepherd Minnesota back to a full financial and economic health.