State House Passes $260 Million Tax Cut Package
ST. PAUL -- The state House has overwhelmingly passed a $260 million package of tax cuts and credits.
House members voted 123-10 Sunday afternoon to approve a tax relief package that would offer property tax relief to farmers and businesses, create a new tax credit for college graduates with loan debt and expand aid to Minnesota parents with childcare costs.
The measure passed with only a handful of House Democrats opposed. Some raised concerns that the cuts could lead to a deficit in future years and that the measure included a handful of reductions on tobacco taxes.
Gov. Mark Dayton has said his support for the tax cuts hinges on seeing a package of spending proposals that meets his requirements. He says a phased-in preschool program and funding for expanding broadband Internet infrastructure and tackling racial disparities are necessary.