Tax deal: $275m in assorted breaks, more in future

A tax agreement reached between House and Senate leaders would reduce various taxes by $275 million next year and twice that over the following two years.

House Speaker Kurt Daudt’s office announced the agreement as a committee of negotiators went over the finer details. There was no immediate word if Gov. Mark Dayton had signed off.

Under the details distributed, there would be new or expanded tax credits for student loan payments, child care costs and college savings plans. There would be breaks for veterans, farmers and businesses on their property taxes.

Daudt, R-Zimmerman, hailed the package. “For hardworking Minnesotans, relief is on the way,” he said in a written statement.

Separate deals on a revised state budget, a construction borrowing plan and a transportation finance package were still being worked on behind closed doors.

Lawmakers must adjourn their session by Sunday night.