ST. PAUL – The Minnesota House of Representatives has taken the first step towards providing tens of thousands of Minnesotans with tax relief by recently approving a tax conformity proposal. State Representative Joe Schomacker (R-Luverne) supported the measure.
“This is the first bill approved by the full House this year, and it is urgently needed because some people will being filing their income taxes next week,” Schomacker said. “We wanted to be sure that they have the opportunity to get their taxes done correctly and receive every dollar they have coming to them.”
Schomacker said early each session, lawmakers examine changes made to the federal tax codes, and to make it easier on taxpayers, they design a package of bills that will bring Minnesota in to compliance with those new federal provisions. This year's bill will enhance the teachers’ classroom expense deduction, the higher education tuition deduction, and the mortgage insurance premium deduction.
Schomacker said politics were played with this bill last year and a lot of people ended up re-filing their taxes in order to take advantage of the federal compliance. This year the House has acted early, and he’s hopeful the Senate and Governor Dayton will soon follow suit.
“The bottom line is that if this bill is signed into law, more money will remain in the pockets of Minnesotans,” Schomacker concluded.