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News


03/31/2017

State Representative Bob Gunther (R-Fairmont) joined a bipartisan majority in the Minnesota House in approving a bill that would reduce taxes on Minnesota’s families and businesses by more than $1.35 billion over the next two years.

“This is truly one of the best tax relief proposals I’ve seen in my time at the legislature,” Gunther said. “The goal was to help the middle class, and this bill does that in a number of ways.”

Gunther said well over half of the proposal is targeted to middle class Minnesotans. Highlights of the bill include:

$269 million in relief for Minnesota’s senior citizens by increasing the income limit at which social security income is taxable

More than $125 million to address college affordability through a first-in-the-nation tax credit for student loan payments, along with subtractions and credits for families saving for college using 529 Savings Plans

$42 million in relief for farmers by reducing the burden farmers and agriculture land owners pay for school bond referendums

$35 million for families with young children by modifying the child & dependent care credit

$203 million in relief for Main Street businesses by exempting the first $200,000 in property value from the extra tax on businesses and freezing its automatic inflator

“The Senate also has its own tax relief package, so the key will be getting Governor Dayton to come along,” Gunther said. “Remember he vetoed a tax relief bill that had the support of 89 percent of the entire legislature, so hopefully he will be on board with the plan this year.”





ROD HALVORSEN
© 2015 KSUM KFMC


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