Rep. Paul Rosenthal (49B) – Legislative Update
Neighbors,
I hope this email finds you well. Here is an update from the State Capitol.
Budget Forecast
This week, Minnesota Management and Budget announced the November budget forecast, projecting a deficit of $188 million ($302 million when the full budget is passed). What’s worse – the deficit is set to grow over the next few years to $586 million.
At the beginning of the 2017 session, Minnesota had a $1.6 billion budget surplus. In less than a year, the House and Senate majority budget plan turned that surplus into a deficit due in part to unwise tax cuts for corporations like big tobacco. This is unacceptable.
This irresponsible budgeting, in addition to the federal tax bill, threaten Minnesota’s economic stability and the livelihood of Minnesota families. As we head toward the next legislative session, convening on February 20, we should be cautious in order to ensure economic stability now and in the future.
I can assure you I will closely monitor our state budget, work across the aisle and advocate for a plan to ensure that Minnesota works better for everyone.
Senior Fraud Prevention
The Minnesota Commerce Department is convening a series of free public forums to provide information for older Minnesotans and their family caregivers on how to protect themselves and their money from common scams and fraud. I’ve been working on legislation since 2015 and was grateful my bill passed last session that establishes this fraud prevention campaign.
These events are in conjunction with the launch this month of the Commerce Department’s Hang Up on Fraud! Initiative. This is a statewide public information and outreach campaign to promote the availability of a new financial fraud prevention toolkit for older Minnesotans and their families.
The number of seniors and vulnerable adults who are targeted by scammers is alarming. Financial fraud can completely upend someone’s life and makes it more difficult for seniors and families to protect what they have worked so hard to earn. These proactive measures will help Minnesotans protect themselves from fraud and permanent financial hardships.
Older adults are often targeted for financial exploitation. It is estimated that one out of every five persons over the age of 65 has been victimized by a financial swindle, with older Americans defrauded out of nearly $3 billion each year. The threat of senior financial fraud is expected to grow as the senior population itself grows
To provide older Minnesotans and their loved ones with the knowledge and tools to stop fraud before it starts, the Commerce Department is working with law enforcement, social service agencies and groups such as AARP Minnesota, Minnesota Elder Justice Center and Senior LinkAge Line (Minnesota Board on Aging).
A free copy of the Commerce Department’s financial fraud prevention toolkit can be requested by email at consumer.protection@state.mn.us or by phone at 800-657-3602. It is also available on the Commerce Department website(mn.gov/commerce).
Sincerely,
Paul