ST. PAUL, Minn. — Governor Tim Walz crowned his budget recommendations to the Legislature by proposing checks of as much as $2,600 for families from the state’s $17.6 billion revenue windfall. If the Legislature goes along, more than 2.5 million people in Minnesota would get the checks. Upper-income taxpayers, however, would receive nothing. The checks would be structured as tax credits equal to $2,000 for families with incomes below $150,000. The credits would be $1,000 for single filers making less than $75,000. The payments would be exempt from federal taxes. Taxpayers could also get an additional $200 for each dependent — up to three. Combined with expanded tax and child-care credits also proposed by Walz, a middle-class family of four could get $10,000 back. The governor’s budget also includes lower taxes on Social Security income for more than 350,000 households. Experts in Walz’s cabinet said that t43% of households receiving Social Security would save an average of $278.
Earlier: Walz 3.0: Major budget hikes for housing, safety