District 21 Sen. Bill Weber, Republican lead of the Senate Taxes Committee, recently joined Republican leaders to introduce alternate budget targets that serve as a path forward to invest in Minnesotans.
A press release states that the proposal shifts a cash bonding target to a general obligation bond target, which frees up $1.9 billion to invest in other areas. This shift delivers permanent tax relief, a strong bonding bill, and support to Minnesotans struggling to find long-term care. Said Weber in the press release: “Senate Republicans’ alternate budget targets show that there is a path forward to provide a bonding bill and permanent tax relief. At the same time, our proposal frees up funding to meaningfully invest in our agriculture industry and stem the tide of closing nursing homes. With this kind of a surplus, our state has plenty of money to meet the critical needs of all Minnesotans.” The proposal that allows for investment in several key priorities:
A $200 million increase in general obligation bonding, to be used on local roads and bridges
$398 million for the cash bonding bill
A $1.146 billion increase to the tax target, to provide a full elimination of the tax on social security and ensure no new taxes
An additional $500 million to support long-term care facilities
An $80 million increase in the agriculture budget.