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Dear Friends,
It's been a relatively slow start to the 2024 Legislative Session. The only significant bill that has passed both bodies is the 2023 Tax Bill Technical Corrections bill. The bill corrects an issue with the standard deduction that will save 76% of Minnesota?s taxpayers from a $352 million tax increase. Unfortunately, this bill failed to address another error in the 2023 tax bill. Changes made to the Net Operating Loss provision, which impacts our job creators, had the wrong effective date. The legislative intent was to make this provision effective for tax year 2024. However, the original bill contained an effective date of tax year 2023. If we do not fix this problem, which both Tax chairs promised to fix over the summer, our businesses will face an estimated $14.8 million tax increase.
The Democratic majorities have introduced a slew of new spending proposals which are being heard in Committees. We are all awaiting the February forecast which is due in a couple days. My hope is that there isn't a surplus since it's likely those dollars would just get spent this session on more wasteful programs.
We have been hearing a lot from our local school districts about the ramifications of the Education Bill passed last session. From the 60+ new mandates to the school resource officer and "inclusionary discipline" changes, our schools are having an extremely difficult time with both budgets and staff and student safety. Through intense negotiations, it looks like there will be a bi-partisan fix to the school resource officer issue but I doubt the other provisions will be rolled-back or fixed this year.
Tomorrow, I will be attending the memorial service for Burnsville police officers Matthew Ruge and Paul Elmstrand and firefighter/paramedic Adam Finseth. After the horrific events in Burnsville a couple weeks ago, we have all been reminded of the need to support our law enforcement and first responders. If you see a police officer or firefighter, make sure to thank them for their service and all they do to protect our community. I will always stand with law enforcement to ensure they have the support and resources they need to keep our state safe. Please keep them in your thoughts and prayers.
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Please Contact Me
Please continue to reach out if I can be of any assistance to you. You can reach me by phone at 651-296-3018 or by email at [email protected].
Have a great weekend!?
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Patti
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387 State Office Building 100 Rev. Dr. Martin Luther King Jr. Blvd. Saint Paul, MN 55155 ph: 651.296.3018 |
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