Dayton Signs Tax Relief Bill

Governor Mark Dayton signed millions of dollars in tax cuts for taxpayers across the state of Minnesota into legislation Friday morning.

The cuts are just one part of Governor Dayton’s tax bill presented last week to conform state income, corporate franchise and estate taxes with federal changes. The governor’s office says that the proposed tax bill would provide $300 million in tax cuts for more than 450,000 Minnesotans.

During the bill’s signing, Dayton addressed concerns about MNsure and the high health insurance premium rates. The Senate has passed a bill that would ease the pain of health insurance premium rate hikes. A solution to the rate hikes is in the works, but Democrats and Republicans are divided on how the relief money would be given out. Republicans think it should be based on income, but the governor and Minnesota Democrats think that model could potentially delay aid until 2018.

The House is expected to take up similar legislation in the coming weeks. The deadline for MNsure open enrollment is January 31st.