House Tax Bill Includes PPP Loan Forgiveness for Businesses
ST. PAUL -- The Minnesota State House has one more budget bill to pass before midnight Wednesday to avoid a partial state government shutdown. Representatives go into session at noon to vote on the Tax Bill.
State Representative Lisa Demuth of Cold Spring says there is some tax relief in there for business owners and people who have collected unemployment benefits during the COVID-19 pandemic.
We know that there is forgiveness for the PPP loans and the unemployment benefits that we have been waiting for. That's something we should have done back in March so it didn't complicate things for our business owners that did have the PPP loans to keep them moving forward. That is finally in the tax bill and I'll be happy to see that come across the house floor.
On the Senate side, they still need to vote on the Education Budget bill Wednesday.
The Minnesota Legislature is approaching the finish line on a $52 billion state government budget for the next two years.
Lawmakers were unable to resolve the differences between the Democratic-controlled House and Republican-led Senate before the regular session ended in May _ even with a projected budget surplus. That forced them to return for a special session on June 14.
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