Dear Neighbors,
The legislative session begins in just a few weeks on March 8th, and I wanted to update you on several legislative news items that might impact you and your family.
Healthcare Cost Containment Initiatives
This week several of my colleagues unveiled a package of bills targeted at increasing transparency for insurance and pharmaceutical companies and reducing healthcare costs for ordinary Minnesotans. Some items targeted are more tools for the state to fight and investigate Medicaid fraud, more funding to identify kids with mental health needs in schools before they enter the criminal justice system, and better transparency about the costs of drugs and medical procedures so consumers can make better choices. You can read more about the proposals here.
Helping Students Refinance and Save
In January, the Minnesota Office of Higher Education and Lt. Governor Tina Smith unveiled a tool to help Minnesota graduates reduce large debt burdens. It’s called the “SELF Refi” program, and it allows college graduates residing in Minnesota to refinance their loans and significantly lower interest rates if they meet certain criteria, including: debt ranging between $10,000-$70,000, a FICO credit score of 720 or higher (650 for those with a co-signer higher than 720), a debt-to-income ratio 45 percent or lower, and completion of a certificate, diploma, associate, bachelor’s, or master’s degree. Graduates can find out more information about the program at OHE’s website here. There is potential for significant savings, and I encourage you to explore what refinancing options are available to you or a family member with student debt.
Minnesota State Grants Increase
The Office of Higher Education also announced an increase in state grants to 95,000 Minnesota college students. The average student would receive an extra $200 in aid. In recent years, the legislature has added $125 million to the Minnesota State Grant program, which expanded eligibility by 17,000 students and increased grants by an average of about $500 per student. You can read Star Tribune coverage of that story here.
DISCLOSE Act
As this election year progresses, your airwaves and mailboxes will undoubtedly fill up with political advertisements supporting or opposing candidates for public office, and while these ads attempt to sway elections by mentioning candidates by name, we often don’t know who actually paid for them. That’s why I’m co-authoring the DISCLOSE Act which will seek to amend the Minnesota Constitution through a voter approved process, and finally provide some transparency for the sources of dark money in Minnesota campaigns. Campaign integrity and transparency is important to the health of our democracy, and voters have a right to know whose bank accounts are behind political communications. If we can get a majority of Senators and Representatives to approve the bill, I am certain Minnesotans will show broad support for this initiative at the ballot box in November.
If you have any questions or concerns, you can always contact me at Rep.Jerry.Newton@house.mn or 651-296-5369.
Sincerely,
Jerry Newton
State Representative