$1.35 billion in tax relief, new road & bridge funding highlight responsible budget approach
Saint Paul- House Republicans announced their budget targets Monday, headlined by $1.35 billion in tax relief for Minnesota families, $450 million in new funding for road and bridge infrastructure, and an overall budget target that ensures a sustainable level of state spending for the next biennium.
“The budget proposal focuses on shared priorities, and respect for Minnesota taxpayers, ensuring your money is spent wisely,” said Rep. Duane Quam, R-Byron. “The highlight of the proposal is the significant and overdue tax reform and relief for Minnesota families.”
House Republicans stated their goal to approach budgeting “The Minnesota Way.” In addition to major tax relief and new road and bridge infrastructure spending, House Republicans are proposing $1.1 billion in new funding for K-12 schools compared to the 2016-2017 biennium.
“Our budget puts Minnesota families first: it respects taxpayers and invests in key priorities like middle-class tax relief, improving our road and bridge infrastructure, and lowering health care costs,” added House Majority Leader Joyce Peppin, R-Rogers. “‘The Minnesota Way’ means identifying and funding priorities—just as families do in their own budgets each and every day.”
The overall House Republican budget target limits government spending more than the two proposals put forward by the Governor and the Senate.
The budget resolution, containing the targets, will be adopted this week by the House Ways and Means Committee and will serve as the framework for Finance Committees as they construct their budgets.