Minnesota’s Governor has laid out his proposed two-year budget on the table for legislators to consider.
Tim Walz recommends $65.2 billion in spending, with $8 billion in tax cuts.
There are also proposed rebate cheques of one thousand dollars to each individual earning $75 thousand or less and two thousand dollars for families earning $150 thousand or less.
Households could also get an extra $200 per dependent.
“With the largest tax cut in state history, the One Minnesota Budget invests directly in the people that made our state strong in the first place,” says Walz.
There is also a proposal to expand the number of seniors eligible for lower Social Security taxes and raise the thresholds at which the tax cuts start to phase out.
Municipalities and Counties could see more money through increases to the Local Government Aid and County Program Aid programs by $30 million each.
Walz’s budget includes creating a new Office of Cannabis Management to oversee the implementation of a regulatory framework toward the legalization of cannabis. The drug is currently only permitted for medical purposes.
It will also include funding for grants to those interested in getting into the legal cannabis market and additional resources for drug treatment and prevention programs.
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