Minnesota Senate GOP: Turn surplus into tax cuts

Feb 21, 20200

Steve Karnowski – Associated Press count

Minnesota Senate Tax Committee Chairman Roger Chamberlain speaks at a news conference at the state Capitol in St. Paul, Minn., on Thursday, Feb. 20, 2020, where he outlined a Senate GOP proposal to use the state's projected $1.3 billion budget surplus for tax cuts.

Minnesota Senate Republicans would use most of the state's projected $1.3 billion surplus for tax cuts, a plan that diverges sharply from proposals by Gov. Tim Walz and House Democrats to beef up the state's budget reserves and fund school programs.

A blueprint of their plan, rolled out Thursday, would reduce the lowest tax rate from 5.35% to 4.9%, expand deductions for businesses and parents of school-age children, and fully eliminate taxes on Social Security income.

http://www.startribune.com/minnesota-senate-gop-turn-surplus-into-tax-cuts/568062902/