South Hennepin News

Minnesota House Republicans are calling for significant tax cuts for families using the state's $1.5 billion budget surplus. 

The tax plan is called "Get Your Billion Back," and while Republicans are in favor, House Democrats and Gov. Tim Walz have been quiet about whether they will offer a tax cut bill this session.

"My top priority for this session was to provide tax relief and this package we are proposing shows how it can be done,” Rep. Joe McDonald said in a statement. “These surplus dollars belong to taxpayers and the biggest challenge for us as legislators is determining what relief will do the most good. Ending the state tax on social security would be a huge benefit, particularly to seniors on fixed incomes. And fixing the Section 179 issue that has been crippling for farmers and businesses would be another real breakthrough this session."

The proposed tax relief package includes eliminating taxes on social security benefits, assisting more families with childcare costs, doubling the student loan tax credit, tax fairness for farmers and main street businesses, property tax relief and increasing the personal exemption.

“We are fortunate that Minnesota’s economy is strong and now it is our responsibility to take advantage of the opportunities before us. Let’s do the right thing for taxpayers by returning to Minnesotans the dollars the state over-collected from them in the first place," McDonald said.