Senate Republicans to Rollout Tax Cut Proposal

Sen. Miller speaks at the press conference. Photo: Minnesota Senate Republican Caucus

ST. PAUL, Minn. (KWNO)-Minnesota Senate Republicans have rolled a proposal they say is the largest tax relief package in state history.  

Senate Majority Leader Jeremy Miller described the proposal during an interview on KWNO’s In the Know Thursday morning. 

“We’re going to have income tax cuts that puts more money in working Minnesotans pockets every single paycheck,” Miller said. “In addition to that, we’re going to fully exclude, fully exempt state income taxes on social security income.”  

The proposal cuts the first-tier income tax rate from 5.35% to 2.8%. Republicans say if the proposal passes it would result in $8.51 billion in tax relief over the next three years. 

DFL leaders have not yet commented on the proposal but have previously warned that large tax cuts could torpedo government investments that Minnesotans want and could create a state budget deficit if economic circumstances change.