Testifying in Committee
Here is an update with the latest news from the Capitol.
This week, House Republicans unveiled a plan that will fund three veterans homes in Minnesota using excess funds from the Vikings Stadium Reserve Account. As I’ve discussed in previous updates, the new veterans homes would be built in Preston, Bemidji and Montevideo.
The reserve fund that we are using to help build these veterans homes currently has an excess balance of $58 million. The reserve is expected to grow to $120 million by the end of fiscal year 2021, and under the plan we’re advancing, the stadium reserve account would be capped at 125 percent of the annual payments of the stadium bonds. That way, we ensure excess funds are put to use rather than sitting idle, while still protecting against a drop in revenue. Currently, there is no cap on the amount of the reserve.
These veterans homes will bring critically-needed beds and services for our veterans in all corners of Minnesota. This bill demonstrates our strong commitment to our servicemen and women, and I hope this is the year we can finally push them across the finish line.
You can watch a video of our press conference talking more about veterans homes here.
Governor Dayton’s Tax Increase
As House Republicans work on a federal tax conformity bill that will ensure Minnesotans can take full advantage of meaningful federal and state tax relief, an analysis by Governor Dayton’s own Department of Revenue reveals his budget proposal will raise taxes on Minnesotans of every income bracket. His plan includes a reinstatement of more than $1 billion in health care tax increases and repealing tax reductions enacted last session. Households making less than $32,000 would be hit the hardest by his plan.
We want meaningful tax relief to work for everyone, and I do not support the regressive plan being put forward by the Dayton Administration. House Republicans are working on their own proposal for tax conformity, and I will share more details on that soon.
As always, thank you for the honor of being your state representative. Please contact me with any questions or input you may have; I look forward to hearing from you.