A long-overdue tax relief proposal that will benefit hundreds of thousands of Minnesotans is on its way to Governor Dayton’s desk, and I was proud to support it.
The reason we had a $900 million budget surplus is because hardworking Minnesotans were overtaxed, and I’m pleased Minnesotans of all ages were targeted for tax relief in this bipartisan, bicameral agreement.
We exempted military pensions from the income tax, and provided relief for our veterans. Working families will benefit through the expansion of the working family and childcare tax credits. Every Main Street business owner in the state will appreciate the repeal of the commercial-industrial property tax off their first $100,000 of property value, which is expected to save the average business owner roughly $1,000 a year. Farmers will receive some relief from school bond levies. And college graduates who are paying off student loans could now receive a tax credit up to $1,000, providing them with some assistance as they look to begin their careers.
There’s no doubt Minnesotans deserved a break through tax relief, and residents in all age brackets will now receive it. This legislation received overwhelming bipartisan support in the Minnesota House and is clearly the top highlight of the 2016 session. I’m very hopeful that Governor Dayton will sign it.
A $35 million investment was made for broadband on the final day of session. Along with the $11 million allocation made last session, we have surpassed the amount dedicated by the previous legislature for this reliable technology. Combined with federal funding, Minnesota will now see roughly $120 million in broadband investments in the next year.
By a bipartisan vote of 91 to 39, the House also approved a bonding bill that included nearly $700 million in funding for roads and bridges. That proposal was lost after Senate Democrats made a choice to hold that funding hostage for an expensive train in Minneapolis.
Actually, Senate Democrats admitted on Twitter that they killed the bonding bill over Southwest Light Rail. This is truly unfortunate because this significant transportation funding infusion would have solved a number of regional highway construction needs, and provided another $12.5 million to the Small Cities Road Assistance program that is helping our communities with their street repair needs.
Governor Dayton is now debating whether or not to call a one-day special session to address outstanding legislative issues. But despite Senate Democrats' last-minute, political maneuvers on bonding and transportation, I’m pleased we were able to approve significant and necessary tax relief for hardworking Minnesotans, expand our investment in broadband, and continue our historic levels of education funding this session.