ST. PAUL, MN – On Friday, legislative leaders announced an agreement on a bill that provides $275 million in tax relief, with an additional relief of $550 million in subsequent budget cycles. Included in the bill are a number of provisions that will provide tax relief for small business owners, recent college graduates, military veterans, and middle-class families across Minnesota.
“In Carver County residents have long been paying too much of their hard-earned money in taxes which led to our $900 million surplus,” said Rep. Jim Nash, R-Waconia. “As a longtime champion for lower taxes, I’m happy to see this bill correct some of the excess taxation of 2013 and 2014. Middle-class families, small business owners, military veterans, and people up and down Main Street, Minnesota will all benefit from this agreement. While I would have liked to have seen greater amounts of tax relief, this compromise is a good start for what I hope to be further cuts in our high tax rates.”
Each chamber must approve the agreement before the legislative session adjourns on Monday, May 23.