What Minnesota's new tax law means for student borrowers, restaurants and other businesses
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January 13, 2023
Jeff Wheeler, Star Tribune
Gov. Tim Walz was applauded after he signed the final copy of the federal tax conformity bill Thursday in the reception room at the State Capitol. Among those with him were, from left, Lieutenant Governor Peggy Flanagan, First Ave. President and CEO Dayna Frank, House Taxes Committee chair Aisha Gomez and at right, Senate Taxes Committee Chair Ann Rest.
Gov. Tim Walz signed a fast-tracked proposal Thursday to cut more than $100 million in taxes for Minnesota restaurants and other businesses that got federal aid at the height of the pandemic.
The new law, the first signed under DFL-controlled government, would also wipe away state taxes on student loan debt that could be forgiven under a plan unveiled last year by the Biden administration.
"For the naysayers and the pessimists, yes, work can get done, and yes, folks came together collectively," Walz said while surrounded by leaders in both parties.
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