Dear Neighbor,
I hope you are having a good summer and I just want to pass along a quick update on a couple of important subjects.
First of all, we received good news this week with a report from Minnesota Management & Budget showing our state’s economy continues to thrive. The report shows that, through the first six months of this year, the state has taken in $348 million (1.6 percent) more than projected in the February forecast (the last full study). MMB reports that General fund revenues for FY 2018 are now estimated to be 4.7 percent greater than in FY 2017.
At least some of this growth can be linked to tax relief provided both at the state and federal levels. More money in people’s pockets has translated to more dollars being pumped into the local economy – a win-win situation.
I am proud of the historic tax relief we led to enactment this biennium, with $650 million in reductions for 2018-19 and $790 million for 2020-21.
On another subject, a disaster declaration has been issued for 36 counties in Minnesota in the wake of recent tornado and flood damage – including Beltrami and Cass in our District 5A. Earlier this week I issued a press release urging area people to work with local sources to complete recovery work
My basic message in the news release is that, while recovery efforts bring out the best in people as far as neighbors helping one another rebuild, times like these also can unfortunately bring out the worst in people as scam artists look to take advantage of folks who already are facing the ordeal of recovering their property. I encourage people to rely on reputable, local services during restoration projects. Hiring trusted businesses with a face and a name in our communities is the best way protect yourself from falling victim to scammers who may try to prey on the situation.
Residents in the counties subject to the disaster declaration also may be eligible for low- or no-interest loans to help with recovery efforts. Farmers can apply for the zero-percent Disaster Loan Program offered by the Minnesota Rural Finance Authority. The program is designed to help cover clean-up cost, repair and replacement costs not covered by insurance. Call the RFA at (651) 201-6004 or visit www.mda.state.mn.us for more information.
Until next time, have a good weekend.
Sincerely,
Matt