SAINT PAUL, MINNESOTA — This afternoon, the Minnesota House of Representatives approved a bipartisan compromise with the Minnesota Senate that will provide targeted tax cuts to workers and small businesses harmed by the pandemic, expand the Working Family Tax Credit, and provide new aid for counties to fund services and programs that prevent family homelessness.
“This is a tax bill that helps both workers who lost their jobs and the small businesses that fell on hard times during the pandemic,” said Rep. Paul Marquart (DFL-Dilworth), chair of the House Taxes Committee. “As Minnesota rebounds from a global pandemic, there is more work to do to level the playing field, bring about more fairness in our tax system, and fund important investments in people.”
The Legislature’s bipartisan tax bill uses federal aid from the American Rescue Plan to provide targeted tax cuts for workers who received unemployment insurance benefits and small businesses that received federal Paycheck Protection Program loans. Democrats say a deal without benefits for both workers and small businesses would have been unacceptable.
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