Walz Signs Historic Surplus Refund Legislation
Minnesota Families to Receive Checks Totaling $1 Billion
St. Paul, Minn. (May 11, 2023) - Governor Tim Walz and Lt. Governor Peggy Flanagan today signed into law historic legislation that will provide millions of Minnesotans with checks totaling $1 billion. The rebates, which range from $350 to $2,600 per family, are part of a larger budget package that returns a portion of the state's projected $17.6 billion surplus to taxpayers.
Checks to be Mailed in Summer 2023
The checks will be mailed to Minnesotans this summer, and households will receive the full amount of the rebate, regardless of their income. The rebates are intended to help families offset the rising costs of everyday expenses, such as food, gas, and childcare.
$2,600 for Families with Children
Families with children will receive the largest checks, with a maximum of $2,600 for families with three or more children. Single filers will receive a maximum of $1,400, while married couples filing jointly will receive a maximum of $2,800.
Surplus Driven by Economic Recovery
The state's surplus is largely driven by a strong economic recovery, driven by the growth of the state's technology, manufacturing, and healthcare industries. The surplus also reflects the state's strong fiscal management practices, including responsible budgeting and a commitment to fiscal discipline.
Walz Praises Legislative Action
In a statement, Governor Walz praised the bipartisan support for the surplus refund legislation. "This historic legislation will put money back in the pockets of Minnesotans who need it most," he said. "By returning a portion of the state's surplus to taxpayers, we are helping families offset the rising costs of living and investing in our state's future."
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