House passes tax bill
ST. PAUL – The Minnesota House passed its omnibus tax bill Wednesday. The vote was 69-62.
The bill includes several provisions that will benefit Minnesota Farmers Union (MFU) members, including:
- Expanding the Beginning Farmer Tax Credit (BFTC);
- Repealing the sales tax on fencing equipment;
- Expanding the Ag to School Tax Credit;
- Funding SWCDs; and
- Adding industrial hemp to the list of agricultural products.
“Passing these provisions in the House tax bill is a big win for Minnesota’s farm families,” said MFU President Gary Wertish. “We have championed repealing the sales tax on fencing equipment in response to last year’s drought and funding the SWCD’s will help farmers put conservation on the ground, which is so important. Expanding the Ag to School Tax Credit is an issue of equity and expanding the Beginning Farmer Tax Credit will help bring more people into agriculture. A special thank you to Rep. Paul Marquart for carrying this legislation and for always working hard to support the interests of rural Minnesota.”
The bill is expected to meet the Senate proposal in conference committee. Legislators have until May 23 to reach a final deal. You can read MFU’s more detailed comments on the House proposal here.
About Minnesota Farmers Union
Minnesota Farmers Union works to protect and enhance the economic interests and quality of life of family farmers and ranchers and rural communities. MFU is a nonprofit membership-based organization. Membership is open to everyone. Learn more and join at www.mfu.org and follow MFU on Facebook, Twitter and Instagram.
# # #
Minnesota Farmers Union—Standing for Agriculture, Working for Farmers (www.mfu.org).