Gov. Tim Walz plans to use the state’s $65 billion budget for one-time checks for taxpayers and other key priorities.
Walz Checks for Minnesota Residents under $65 Billion Surplus Budget
The budget expenditures were released by Gov. Tim Walz as he plans to invest in his key priorities and send out one-time checks to taxpayers. This includes funding for K-12 education, affordable housing, mental health, public safety, building out electric vehicle charging infrastructure, and much more. Walz expressed his excitement about how the state budget will be used. This targets the reduction of the tax for Minnesota workers and offers better services to the state. He hopes to carry on a long tradition of progressive taxation and investments in things that matter.
After announcing state budget recommendations, Gov. Walz and his administration focused on a portion to be allotted to tax rebates. These rebates will be called “Walz checks” which will return $17.6 billion to taxpayers. This means that qualifications and guidelines are set and underway. Gov. Walz minimized the income limit qualification in hopes of increasing the number of recipients and maximizing the surplus state budget. Once approved, $1,000 will be sent out to single filers making $75,000 or less and $2,000 for families making $150,000 or less. This would also come with $200 per dependent with a max limit of $2,600.
Gov. Tim Walz plans to use the state’s $65 billion budget for one-time checks for taxpayers and other key priorities. (Photo: CBS News)
2.5 Million Minnesota Households to Benefit from Surplus State Budget
The governor’s office estimated 2.5 million Minnesota households would benefit from the budget. But before they receive the money, the proposal needs approval from state lawmakers. A politics professor at the University of Minnesota Larry Jacobs commented that there will be trade-offs as differences arise.
To reduce child poverty, tax credits are suggested to help families afford the soaring costs of child care. The recommendations will start off the legislature and compose the state’s spending plan before the session’s end. Most of Gov. Walz recommendations mirror those of DFL lawmakers in power at the capitol. As stated in a post by CBS News Minnesota, this will make way for a favorable decision on the governor’s agenda in his second term.
