Minnesota Senate GOP Unveils Tax Bill With Income Tax Cut
ST. PAUL, Minn. (AP) _ Republicans who control the Minnesota Senate have unveiled a tax bill they say will benefit all Minnesota taxpayers and provide tax cuts to half of them.
The bill presented Wednesday contrasts with proposals from Gov. Tim Walz and the House Democratic majority that would raise gasoline and other taxes and preserve an expiring tax on health care providers. And it sets up tough negotiations for the closing days of the session.
The bill includes a quarter-point income tax cut for middle-class taxpayers and would shelter more social security income. It would also expand the ability of businesses and farmers to deduct equipment purchases.
Senate Taxes Committee Chairman Roger Chamberlain says the bill protects taxpayers and their ability to keep what they earn to provide for themselves and their families.