MINNEAPOLIS — Seniors would no longer pay taxes on social security income, millions of Minnesotans could see a small income tax cut and tens of thousands of families and renters across the state would be eligible for more tax credits under a sweeping deal struck Saturday at the divided Capitol.
Top legislative negotiators heralded the $4 billion package as transformational for Minnesotans after two years of battling the COVID-19 pandemic and as costs go up in almost every aspect of their lives.
"We have in this bill the largest tax cuts in the history of the state," said state Rep. Paul Marquart, DFL-Dilworth, chair of the House tax committee. "It's going to positively impact — in a real and meaningful way — families, senior citizens and businesses across the state."
