Minnesota House passes tax bill, rebate checks included
ST. PAUL, Minn. (KTTC) – The Minnesota House of Representatives passed the 2023 Tax Conference Committee Report Saturday, a move the DFL says is the largest tax cut in state history.
The bill includes credits, rebates, and other provisions designed to maximize benefits for workers, families, and seniors.
“The taxes conference committee has worked hard to craft a tax budget which invests in the Minnesotans who need it the most, while maintaining fiscal responsibility and sound management,” said Rep. Aisha Gomez (DFL - Minneapolis), Chair of the House Taxes Committee, in a release.
The bill includes full Social Security state income exemption for those earning less than $100,000 annually (married/joint) or $78,000 (single/head of household), phasing out at $118,000 for single filers and 140,000 for joint filers.
It also includes direct rebates of $260 per person, with an additional $260 for each dependent (up to three). The bill also provides Child & Working Family Tax Credit of up to $1,750 per child.
The plan also includes $300 million for public safety assistance for communities and $160 million more in state aid for cities and counties.
The tax bill does not contain a House-backed fifth income tax bracket on incomes over $1 million, a hike that was dropped during the negotiations.
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