(St. Paul) – Senate Republicans today announced a multifaceted plan to return Minnesota’s budget surplus to taxpayers. The Senate Republican tax plan emphasizes putting money back in the pockets of families and individuals, particularly middle-income and low-income earners, so they have more security, freedom, and flexibility to chase their dreams. This is the marquee piece of Senate Republicans’ Vision 2020 Agenda, which was unveiled in January.

The Get Your Billion Back plan is built upon a massive package of tax cuts worth more than $1 billion, which will ease the burden for every single Minnesota taxpayer. The plan calls for reducing the bottom income tax rate, completely eliminating taxes on Social Security income, expanding the K-12 income tax credit, and more. 

Senator Mike Goggin (R-Red Wing) issued this statement: “We are pushing for tax reform this year because we know every dollar makes a difference. This tax cut proposal includes the elimination of the social security income tax which I have championed since 2017. People are letting me know that it is becoming more and more difficult to stay in Minnesota. I want to do all I can to help them stay here with their families, friends, communities, and churches. I am happy to say we are lessening the tax burden on all Minnesotans.”

For the full release, click here.