Dear Lakeville Neighbors,
Happy Friday! It’s the end of the week, it feels like spring outside, and things are moving quickly at the Capitol. Yesterday was a big day for our state, and I wanted to make sure you had the details.
Tax Relief
Last evening, we passed a $1.35 billion tax relief bill that will benefit Minnesotans around the state. Some important provisions include:
- $203 million for local, main-street businesses by exempting the first $200,000 in property value from the state general levy. More importantly we freeze the statewide tax levy which was on an automatic inflator index.
- More than $125 million to help make college more affordable through a first-in-the-nation tax credit for student loan payments.
- $269 million in relief for Minnesota’s senior citizens by increasing the income limit at which social security income is taxable.
- $35 million for working families with young children by modifying the child and dependent care credit.
Prior to this session, I heard from many Lakeville residents who felt our state’s budget surplus is a sign they were being overtaxed. As a member of the Taxes Committee, I’ve worked with my colleagues to craft a bill to help seniors, small business owners, recent college graduates, young families, and more. I voted to pass our bill to provide $1.35 billion of tax relief to Minnesotans in our area and around the state.
Education and Transportation Bills
Today on the House floor, we passed a 10-year, $6 billion plan to improve our state's transportation infrastructure. Most importantly, our bill prioritizes roads and bridges without raising the gas tax. With a budget surplus, we should be looking to existing revenue streams - not an increased gas tax - to fund roads and bridges. I voted for this measure and it passed on a 76-54 vote.
If you’re interested in my general thoughts on our transportation legislation, please click here to listen to my transportation-related segment on MPR.
Currently, we’re discussing our education budget bill that increases funding by $1.1 billion. I’ll have more information on this in my next update.
Coming Up
In the coming days, we’ll continue to discuss our large budget bills in other important areas. I’m thrilled with our progress in the first three months of session, and can’t wait to see where we finish in May.
For those on spring break, I hope you enjoy your time off!
Have a great weekend,
Jon Koznick
State Representative, Lakeville, 58A