Minnesota House Democrats propose tax plan with rebate checks and new tax bracket.

1 min read
Source: CBS Minnesota
Minnesota House Democrats propose tax plan with rebate checks and new tax bracket.
Photo: CBS Minnesota
TL;DR Summary

Minnesota House Democrats have released a $3 billion tax plan that includes one-time rebate checks of $275 per taxpayer plus more for up to three dependents, a child tax credit of up to $1,175 per child for working families, and a new "millionaires tax" on the state's highest earners. The plan creates a fifth income tax bracket of 10.85% for married couples making more than $1 million per year and individuals making $600,000. Republicans criticized the tax increases, proposing a "Give It Back" plan that would send $13 billion back to taxpayers over two years.

Share this article

Reading Insights

Total Reads

0

Unique Readers

0

Time Saved

4 min

vs 5 min read

Condensed

89%

85995 words

Want the full story? Read the original article

Read on CBS Minnesota