ST. PAUL – House Republicans held a press conference Monday calling for significant tax cuts for Minnesota families using the state’s $1.5 billion budget surplus.
Senate Republicans announced their “Get Your Billion Back” tax plan earlier this year, while House Democrats and Gov. Tim Walz have remained mum on whether they will put forward a tax cut bill this session.
Rep. Joe McDonald, R-Delano, said the time is right to provide Minnesotans with tax relief.
“My top priority for this session was to provide tax relief and this package we are proposing shows how it can be done,” McDonald said. “These surplus dollars belong to taxpayers and the biggest challenge for us as legislators is determining what relief will do the most good. Ending the state tax on social security would be a huge benefit, particularly to seniors on fixed incomes. And fixing the Section 179 issue that has been crippling for farmers and businesses would be another real breakthrough this session.
“We are fortunate that Minnesota’s economy is strong and now it is our responsibility to take advantage of the opportunities before us. Let’s do the right thing for taxpayers by returning to Minnesotans the dollars the state over-collected from them in the first place.”
The House Republican proposal provides relief to a wide swath of Minnesotans, from seniors to farmers, homeowners, Main Street businesses, college graduates with student loan debt, and families with kids in childcare.
In total, the package Republicans put forward Monday provides approximately $1 billion in tax relief. This includes: