Dear Neighbor,
The Legislature has sent the governor another complete set of budget bills for the next two-year cycle and adjourned for the year early this morning.
The $650 million in tax relief we provided and $300 million more for transportation over the next two years alone – without raising taxes – leap off the page in terms of our major accomplishments this year. The state has not seen results like this in decades and I am proud of the work we did this year.
The House and Senate concluded a brief special session by passing the final bills that will comprise the state’s 2018-19 budget. In all, the Legislature passed seven bills during special session: taxes, transportation, state government, health and human services, K-12 education, capital investment and labor standards.
The tax bill will mean more than $650 million in tax relief – the largest tax cut in nearly two decades – for Minnesota families in 2018-19 biennium and roughly $750 million in tax relief in 2020-21. That includes relief for seniors on Social Security, college graduates with student loan debt, and property tax relief for farmers and Minnesota businesses.
I am especially pleased about the reduction on Social Security taxes because it will really make a difference for our seniors, particularly those on fixed incomes. Minnesotans deserved some tax relief and it is good that we delivered.
As for the transportation funding the Legislature approved the largest investment in road and bridge infrastructure in state history, putting billions toward the state’s transportation needs over the next 10 years without an increase in the gas tax or license tab fees.
In all, the Legislature sent 10 budget bills, a $995 million bonding bill and a labor standards bill to the governor’s desk for his signature.
Look for more information about the other various parts of our state budget in upcoming emails. There are a lot of good provisions to help Greater Minnesota and we could run through some of those.
Until then, have a good Memorial Day weekend as we honor those who sacrificed so much and please be safe on the roads.
Sincerely,
Paul