Dear Friends and Neighbors,
Last Wednesday, the House passed the Tax Omnibus Bill which includes $2 billion in tax relief for everyone from middle class families to seniors to college students.
For the middle class families with kids in Chisago County, there will be an expansion of the dependent care credit to help cover the cost of daycare expenses. Also included are additional deductions for pre-k expenses and for those saving for college with a Minnesota Colleges Savings Plan.
Furthermore, aging Minnesotans on a fixed income would receive tax relief from our bill with the phase-out of the social security tax. There is $9.5 million allocated in the bill to help people saving for future long-term care costs or who are purchasing long-term care insurance as well.
Next, for the young people concerned with the rising expense of college, the bill provides $130.6 million to give university, technical and trade school students relief through a new tax credit for principal and interest student loan payments, as well as another $680,000 for sales tax relief on expensive educational supplies like text books.
For entrepreneurs and job creators, the bill will phase-out the statewide general property tax, encouraging the expansion of businesses, an increase in employee wages and lower prices for consumers. The Tax Bill also provides $101.9 million for research and development tax credits to target start-ups and entrepreneurs in our state. These provisions will help Minnesota be more economically competitive with other states, helping us to attract and grow businesses.
Additionally, one important provision in the bill specifically for our district that I authored will give Taylors Falls $100,000 for border city development. This money will offer tax relief to new businesses that come into the community. Chisago County state representatives of both parties over the past 15 years have authored similar bills. I am hoping this is the year it will get signed into law.
Finally, it's just as important to note what is not in the Tax Bill as what is. An amendment was offered on the House Floor to include Governor Dayton's regressive gas tax proposal, which would add a minimum of 16 cents to a gallon of gas, and it was unanimously rejected. It seems both parties in the House are listening to their constituents, a vast majority of whom oppose a gas tax hike.
The Tax Omnibus Bill, along with other omnibus bills passed over the last couple weeks, will now go to conference committee where final versions of the legislation will be negotiated between the House and Senate.
Also last week, the House Transportation Committee held an informational hearing on transportation projects important to Minnesota legislators. I presented a bill asking for $35 million dollars to expand Highway 8 from two lanes to four lanes between Forest Lake and Chisago City. I talked about the economic development reasons and the public safety reasons for why this is necessary.
If you have comments on the Tax Omnibus Bill, or any other pieces of legislation being debated in the House, please don't hesitate to share them with me by calling my office or sending me an email.
As always, it's a privilege to represent the people of Chisago County.
Sincerely,
Bob