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Minnesota House Republicans are moving forward today with a bill (HF 1914) that cuts taxes for some—and raises taxes on others. Who gets the Valentine from the Minnesota GOP?
Corporations and big businesses.
Corporations and businesses will receive the bulk of tax cuts under HF 1914. In total, the bill provides $80 million in 2013 in tax cuts with over 94% of the relief going to businesses— including out-of-state corporations like Wal-Mart and the out-of-state owners of Mall of America.
Seniors, renters, and middle-class Minnesotans.
Over 300,000 Minnesota renters will receive a tax increase under HF 1914 due to reduction of the Minnesota renters credit. And there’s next to nothing for middle class homeowners whose property taxes skyrocketed due to the GOP’s elimination of the homestead credit. • Renters will see an average tax increase of $221 • 317,200 renters will see a tax increase • 89,100 seniors or disabled Minnesotans will receive a tax increase • 74,000 Minnesotans will see their renters credit eliminated1
Wal-Mart gets a tax cut. Grandma gets a tax hike.
HAPPY VALENTINE’S DAY from the Minnesota GOP!
Source: Minnesota Department of Revenue