I'm glad to report that we are getting things done in Saint Paul. This week the House passed long overdue tax relief, returning $1.35 billion to hardworking Minnesotans. On Friday, we also took up debate on the Transportation bill that will invest significant dollars in our roads and bridges.
Come Together Right Now for Tax Relief
On a bipartisan vote of 80-52 the House of Representatives passed the "Come Together Right Now" tax bill. For too long hardworking Minnesotans have been overtaxed, which has driven seniors and young families out of our state. Our tax relief package is aimed at relieving the burden felt by middle-class Minnesotans. Families with young children, seniors, and students are among those middle-class Minnesotans who will benefit the most from the House Republican tax plan.
Highlights of the $1.35 billion in tax relief include:
- $269 million in relief for Minnesota’s senior citizens by increasing the income limit at which social security income is taxable. As a result, by 2019 nearly 284,000 senior citizen tax returns (single and married filing jointly) would be eligible to receive a tax exemption on their social security benefits with an average tax reduction of $710.
- $42 million in relief for farmers by reducing the burden farmers and agriculture land owners pay for school bond referendums. Approximately 240,000 farmers could receive property tax relief to reduce their disproportionate share of school district debt service. Farms will also benefit from a measure conforming the state death tax to the federal exclusion.
- $35 million going for modifying the child and dependent care credit. A family of four with childcare expenses would be estimated to receive $660 in relief.
- More than $125 million toward addressing college affordability. Families saving for college using 529 Savings Plans will benefit from expanded subtractions and credits. In addition, 77,500 students will receive, on average, a $640 reduction in their taxes through a first-in-the-nation tax credit for student loan payments.
- $203 million in relief for hometown businesses by exempting the first $200,000 in property value from the extra tax on businesses and freezing its automatic inflator. This helps every business owner reinvest in their business, protecting 30,000 Minnesota jobs.
Watch my video talking about the bill or read more about it here.
This week I had the pleasure of meeting with a number of constituents. It's always great to see and chat with people I am honored to represent.
Rep. Grossell with a group of farmers from his district
Rep. Grossell surrounded by a group of home school students and parents
Rep. Grossell with two members of the Teamsters Union
Please continue to stay in touch to share our thoughts or concerns. My phone number is 651-296-4265 or you can email me at email@example.com.
Have a great weekend,