Minnesota Republican lawmakers have unveiled their action plan for cutting taxes in light of the state’s projected $17.5 billion dollar budget surplus.
The so-called “Give it Back” program includes: a one-percent cut in the bottom tiers on income taxes…an increase in the exemption on Homestead property taxes…a child care credit…and a one-time refund – or rebate.
Representative Kristin Robbins says the package would also end the tax on social security – a big boost for seniors around the state.
The one-time rebate check would total $1,250 dollars for single Minnesotans and $2,500 for joint filers.
Senator Bill Weber says Republicans were never against the idea of rebate checks – but want a more comprehensive package.
Senate majority Leader Mark Johnson of East Grand Forks says tax relief is a priority this session and provides a historic opportunity to return the money to taxpayers.
Governor Tim Walz also has rebate checks in his tax cut plan.