A bill to pay back budget shifts and give modest tax relief to property owners and businesses that hire veterans was released by the Senate DFL today.
The $460 million price tag is far apart from the Republican-controlled House, which has outlined a plan for $2 billion in tax cuts for business, Social Security recipients, military retirees, people with student loans a host of other interest groups.
The Senate plan would use $225 million to pay back accounting shifts that occured during tough budget years.
The plan would provide about $200 million in tax relief, much of it directed at property taxpayers, either through direct cuts or by increasing local government aid, which could give local governments the ability to hold down taxes.
The Senate plan would also spend $47 million during the next two years on a tax credit for businesses that hire veterans.
The Senate Taxes Committee will take up the bill Tuesday.