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Walz tax cut for 1 million families doesn t reach lowest earners Some Republicans quickly derided the small amount, with House Minority Leader Kurt Daudt calling it a talking point, that s not a tax cut. February 13, 2021 6:17pm Text size Copy shortlink:
More than 1 million households would see a tax cut albeit a small one under the piece of Gov. Tim Walz s tax plan that would directly affect the most Minnesotans.
When the Democratic governor debuted his budget for the next two years, he presented the expansion of the state s first-tier income tax bracket as a way to help vulnerable Minnesotans financially weather the pandemic. But that proposal would not cut taxes for the state s lowest-income residents, who are already taxed at the lowest rate. And the million families that do benefit would get, on average, an annual tax break of $36.
Gov. Walz unveils budget plan for 2022-23 biennium
The governor s budget proposal heavily focuses on the state s recovery from the COVID-19 pandemic, proposing a fifth-tier tax bracket for the state s wealthiest. Author: KARE 11 Staff Updated: 1:55 AM CST January 27, 2021
ST PAUL, Minn. Minnesota Gov. Tim Walz revealed his biennial budget proposal on Tuesday, with a focus on the state s economic recovery following the COVID-19 pandemic.
The state faces a state s projected $1.3 billion deficit for FY 2022-FY2023, the two-year budget cycle that begins July 1, 2021. If the budget for that biennium isn t balanced before then it will trigger a partial state government shutdown.