The Minnesota Department of Revenue’s tax analysis of Governor Tim Walz’s 2019 proposal uncovers that the bottom half of Minnesota residence on the income ladder would experience a 9.9% tax increase while the upper half would experience a 5.9% increase.
The lowest tax bracket, which is those who earn less than $14,528, would experience a tax increase of $2.37 for every $100 earned while the highest tax bracket, which is those who earn more than $185,601, would incur an additional tax of 49 cents for every $100 earned. Other tax bracket tax increases can be viewed here.
The biggest hit to lower-income families and individuals in Minnesota in Walz’s 20 cent gas tax increase.
Walz has stated that his “budget uses data-driven results, makes reforms to serve more Minnesotans, and empowers communities around the state to make decisions that work best for them” but the Minnesota Department of Revenue’s data seems to challenge that point.
Chairman of the Senate Tax Committee, Roger Chamberlain (R-Lino Lakes) responded to Walz’s tax proposal saying that “Democrats can talk all they want about the rich paying their fair share, but now we know it’s just a slogan.”
The Minnesota Senate Republicans have created their own tax plan that includes cutting the income tax rate and giving tax breaks business owners, charitable gaming organizations, farmers and senior citizens, helping Minnesota align with the federal tax code.
***
Do you like Alpha News? Help us reach more people in 2019 by donating today
Megan Olson
Megan Olson is a 2020 graduate of the University of Minnesota with degrees in political science and history. She works in public affairs in addition to serving on the Legislative Advisory Council for School District 196. She is also on the school board for FIT academy, a charter school in Apple Valley.
