House OKs tax reforms

To the Editor:

The Minnesota House of Representatives recently approved legislation that would cut taxes for the first time in two decades while making Minnesota’s tax code simpler to navigate.

I voted yes on the plan. We’re looking at a bill that is fair for everybody, give a maximum number of people a tax cut and still maintains the deductibility for various parts of our tax code.

More than 2.1 million Minnesota filers will benefit from a tax cut in tax year 2018.

Other highlights include:

o Helping middle-class Minnesotans keep more of what they earn by cutting the second tier income tax rate from 7.05 percent to 6.75 percent by tax year 2020.

o Lowering taxes for people at all income levels by increasing the standard deduction from $13,000 to $14,000.

o Protecting families by preserving a state personal and dependent exemption of $4,150.

o Encouraging affordable homeownership by allowing a state-itemized deduction of up to $30,000 in property taxes.

o Supporting hometown businesses and farmers by reinvesting extra revenue from corporate tax changes into Section 179 conformity and overall rate reductions.

By contrast, Gov. Mark Dayton has crafted a plan that increases taxes on all classes of Minnesotans — from the poorest to the richest and everyone in between — by more than $1 billion.

State Rep. Bob Gunther,

R-Fairmont

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