Minnesota House Democrats propose tax plan with rebate checks and new tax bracket.

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Source: CBS Minnesota
Minnesota House Democrats propose tax plan with rebate checks and new tax bracket.
Photo: CBS Minnesota
TL;DR

Minnesota House Democrats have released a $3 billion tax plan that includes one-time rebate checks of $275 per taxpayer plus more for up to three dependents, a child tax credit of up to $1,175 per child for working families, and a new "millionaires tax" on the state's highest earners. The plan creates a fifth income tax bracket of 10.85% for married couples making more than $1 million per year and individuals making $600,000. Republicans criticized the tax increases, proposing a "Give It Back" plan that would send $13 billion back to taxpayers over two years.

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