ST. PAUL, Minn. – In a turn-about, Republican legislators want now to dip into the state revenue surplus and send rebate checks to taxpayers. The new GOP plan, called “Give it Back,” would send $1,250 to individual taxpayers and $2,500 to joint filers. A year ago when Democratic Governor Tim Walz proposed rebates, Republicans were steadfastly opposed and mocked the plan as a political gimmick they called “Walz Checks.” The Walz plan failed in the Republican-controlled 2022 legislative session. Walz is back this session with rebates, at this point $1,000 for individuals earning up to $75,000 a year $2,000 for joint filers with $150,000 income – not quite as much as the GOP’s revisionist plan. The GOP plan would cost $5 billion from the state’s $17.5 billion reeue windfall.
Other “Give Back” detail
The Republican tax plan also would provide an $1,800 tax credit for each minor child. It also would eliminate the state tax on Social Security.