Governor Tim Walz says his state budget plan would send nearly four billion dollars of the budget surplus directly back to over two-and-a-half million Minnesotans with checks up to 26-hundred dollars for families with dependents.
“The largest tax cut in (the) state’s history to the greatest number of Minnesotans across the spectrum.”
The governor also proposes reducing state income tax on Social Security benefits for over 350-thousand Minnesotans households. He wants the tax to start phasing out at a higher income than currently, but not be totally eliminated as Republicans and some Democrats have been calling for. Walz says his proposed tax cuts would total eight billion dollars.
ADDITIONAL INFO ON “WALZ CHECKS”: Families with income under 150-thousand dollars would be eligible for a two-thousand-dollar payment, plus 200 dollars more per dependent, up to three. Single filers making less than 75 thousand dollars would be eligible for a one-thousand-dollar payment.