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Walz tax cut for 1 million families doesn't reach lowest earners

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
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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. ....

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Tax increase on Minnesota's highest earners renews fair share debate

Tax increase on Minnesota s highest earners renews fair share debate
Briana Bierschbach, Star Tribune
© Star Tribune/Star Tribune/ANTHONY SOUFFLE Star Tribune/Star Tribune/TNS
Minnesota Gov. Tim Walz debuted his state budget plan for the next two years during a press conference Tuesday, Jan. 26, 2021 at the Department of Revenue building in St. Paul.
Gov. Tim Walz s proposal to raise taxes on the wealthiest has reinvigorated a debate in Minnesota: Do top earners pay their fair share, or will his plan hamper a fragile economic recovery?
The centerpiece is a new fifth tier income tax bracket on couples making more than $1 million each year, a jump from the fourth tier income tax enacted eight years ago by his predecessor, former Gov. Mark Dayton. The Walz administration says the COVID-19 pandemic hasn t hit those earners as hard as it has lower-income Minnesotans, who would benefit in Walz s plan through direct aid and tax relief. ....

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