ST. PAUL, MN—Rep. Pat Garofalo, R-Farmington, issued the following statement following the passage of House File 6, which conforms Minnesota's tax code to the federal tax code, allowing thousands of Minnesotans to take advantage of federal tax credits for tax year 2014 including a deduction for higher education, a deduction for teacher expenses, and a mortgage insurance premium deduction. In total, the bill amounts to about $20 million in immediate tax relief for Minnesota families and businesses.
"Thousands of families will see more money staying in their pockets as a result of this bill," Garofalo said. "$20 million in immediate tax relief passed on a strong bipartisan vote shows the good work that can be done when Republicans and Democrats work together to help Minnesota families."
The bill passed unanimously, 129-0. A similar bill is making its way through the Senate, and could be passed as early as next week. The bill will then either head to conference committee to reconcile differences between the House and Senate Files or to the Governor's desk for signature.
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