Dear Friends and Neighbors,
This week House Republicans began passing budget omnibus bills. Here is an update with the latest news from the Capitol.
Tax Relief
With a significant and growing budget surplus, our first priority this session is to return money the hardworking taxpayers of our state who helped fund it. From families with kids to hometown businesses, our comprehensive tax bill, which passed the House on Thursday, will provide more than $1.35 billion in meaningful tax relief.
For seniors living on a fixed income, we are reducing the state tax on Social Security by increasing the taxable income threshold. For families saving for college with a 529 Savings Plan there are expanded subtractions and credits, as well as a first-in-the-nation tax credit for Minnesotans repaying student loans that will result in an average $640 reduction in taxes. For working families with childcare expenses, there is also an expansion of the dependent care credit. Finally, for our hometown businesses, we are exempting the first $200,000 in property value from the extra state property tax on businesses which will help spur expansion and hiring in the private sector.
This is a tax bill focused on putting more money back in the pockets of Minnesotans, and I am excited that we are advancing a substantial tax relief bill this session.
I talked a little bit more about our tax bill in a video you can see here.
The Minnesota Road & Bridge Act
Today, House Republicans are also debating the Minnesota Road & Bridge Act, a plan which invests $6 billion over the next decade into our transportation infrastructure without raising the gas tax or Metro Area Sales Tax.
Our plan invests $300 million in one-time Corridors of Commerce funding for key highway infrastructure projects; funds $450 million in new road and bridge projects across the state by redirecting existing transportation-related taxes the state already collects; and prioritizes public transportation in the metro including funding a pilot program for suburb-to-suburb bus transit.
Additionally, the provision I authored to fund the safety and improvement study of the I-94/694/494 highway interchange is also included in the bill. This is an important local project for commuters and commerce in Woodbury, and I am pleased it is advancing in the transportation omnibus bill this session.
House File 2453
In the Transportation Finance Committee this week, they held a hearing on my bonding bill, House File 2453.
The bill appropriates $3 million for the environmental analysis, design and engineering of a Gateway Corridor Bus Rapid Transit Guideway and bridge over I-94 between Woodbury and Oakdale. This bridge will be for multi-use including bus, car, bicycle and pedestrian traffic.
This project is a priority for our community, and I am hopeful we can advance this local project this session.
Congrats to Woodbury on 50 Years!
I had a wonderful time attending Woodbury’s 50th birthday celebration at Central Park last Saturday. It was great to see so many of our residents celebrating a fantastic community like ours. Happy birthday, Woodbury!
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As always, if you have ideas about what you would like to see happen this session or need assistance on a matter of state government, I welcome you to contact me. Please don’t hesitate to call (651-296-1147), email (rep.kelly.fenton@house.mn) or stop by my office.
Sincerely,
Kelly
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