Hello friends!
This week in the legislature we have been working on the final versions of our finance committee bills. Here are a few highlights.
Statewide
The Republican Tax Bill reduces taxes on hardworking Minnesotans by more than $1.35 billion over the next two years.
Here are just a few of the great things it will do:
The single-largest feature in the bill is $270 million to provide a state tax exemption on social security income up to a certain amount, which will help senior citizens living on fixed income.
Middle-class families will benefit from $35 million going toward modifying the child and dependent care credit. As a result of the expansion of the dependent care credit, a family of four with childcare expenses will receive $660 more relief than current law.
More than $125 million goes toward addressing college affordability. Families saving for college using 529 Savings Plans will see expanded subtractions and credits. In addition, 77,500 students will receive an average of $640 in tax reductions through a first-in-the-nation tax credit for student loan payments.
Local businesses will be empowered to expand and hire more Minnesotans with $203 million to reduce the extra state property tax bruden on businesses. The first $200,000 in property value will be exempt from the extra tax on businesses, and the automatic inflator will freeze.
Farmers will see significant relief with $42 million to reduce the amount that agriculture land owners pay for school bond referendums. Farms will also benefit from the the state death tax being conformed to the federal exclusion.
In our district
4 of my bills have passed and were added to our final House policy bills.
House File 1179, will provide continued funding for our area Emergency Response Team. This team, along with 4 others in the state, are trained and equipped for large scale emergencies.
House File 1560, continues to prevent the DNR from clear-cutting the Sand Dune State Forest. It gets the powerful DNR OFF of the backs of the folks that live in Orrock Township.
House File 1387, provides regulatory relief to many of our area farmers who need to irrigate their crops. This bill helps to stop the crushing pressure and over-reach by the DNR on our family farms.
House File 1317, provides funding for a much needed waste water treatment system in Clearwater and Clear Lake. I have been working for 5 years to get this one moving. I won't stop!
All of these bills are now part of the final versions of our committee policy bills. I will keep fighting to make sure they survive the process as all of our bills work their way towards the Governor's desk.
Have a GREAT weekend!
God's peace,
Jim