On Thursday, Senate Republicans passed a government financing bill that included bonding, tax, and budget provisions for the entire state. The bill invests in Minnesota’s critical infrastructure providing $300 million for wastewater treatment and $700 million for roads and bridges. Additionally, the legislation includes $200 million in tax relief for small businesses and farmers.
“As Minnesota continues to grapple with COVID-19 and a looming financial deficit, the legislature has worked hard to create responsible legislation that makes investments in critical infrastructure and asset preservation across the State of Minnesota,” said Senator Dan Hall (R-Burnsville). “The bill passed today includes several key initiatives for our region and secures long-term investments in our local economy. As we recover from COVID-19, this legislation will bring jobs and economic growth while supporting our transportation, clean water, and higher education goals.”
Included in the legislation is funding for the City of Lakeville for improvements on Orchard Lake. Additionally, the bill provides funding to improve Trunk Highway 13 and the Dakota and Yosemite Interchange to create a safer and more efficient driving corridor.
A top priority of Senate Republicans was Chapter 179 tax conformity for main street businesses and farmers. This change allows farmers and other small business owners to deduct large equipment purchases on their taxes that will stimulate the economy with investments in their operations.
In the supplemental budget portion of the budget, public safety is prioritized. This week, Senate Republicans released a report highlighting the inaction from Walz resulted in an increase in destruction and violence during the riots. The bill does not provide funds to rebuild businesses that were damaged but reimburses law enforcement agencies for their work in quelling the riots this summer. It also includes a pay raise to State Troopers.