Minnesota Stimulus Check: New Proposal to Send $ 500 to Taxpayer …
Minnesota Stimulus Check: New Proposal to Send $ 500 to Taxpayer …

Minnesota Stimulus Check: New Proposal to Send $ 500 to Taxpayer …

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Federal stimulus checks may have run out, but stimulus payments from states continue to flow in. In addition, several states are still working on proposals to offer stimulus money to residents, and the most recent state to do is Minnesota. The Minnesota stimulus check proposal, if approved, would offer $ 500 to residents who meet the eligibility criteria. State Representative Dan Wolgamott, who works in conjunction with Governor Walz, presented this proposal Tuesday.

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Minnesota Stimulus Check: Who Gets It?

Under the proposal, called HF 4625, single files would receive a Minnesota stimulus check of $ 500, while couples applying jointly would receive a one-time payment of $ 1,000. The state would use the budget surplus to send out the Minnesota stimulus check.

“With a profit of $ 9.25 billion, we can afford to make direct payments to taxpayers while also investing in the critical needs of our state,” Wolgamott said in a press release. “I’m proud to work with Governor Walz to put money in the pockets of Minnesota residents as families deal with unprecedented rising prices and economic challenges.”

If the proposal is approved, eligible residents will start getting checks in their mailboxes before late summer. To qualify for the payment, people must be resident in the state by 2020, file their tax returns for 2020 by October 15, 2021 as well as claim a refund in 2021 for property taxes paid against rental taxes by 2020.

In addition, single files earning more than $ 164,400 (over $ 273,470 as a couple applying jointly) will not qualify for the Minnesota stimulus check. Similarly, the household head with taxable income of more than $ 218,540 and married people who file returns separately with income of more than $ 136,735 will not qualify for the stimulus payment.

Gov. Walz favors direct payment over gas tax holidays

At a time when many states are pushing for a gas tax holiday, Governor Tim Walz is in favor of sending rebate checks to help people fight inflation. Walz believes it is more efficient to send direct payments than to suspend the state’s gas tax of 28 cents per gallon.

“I think that money in the hands of people before summer would make a good difference. And it’s financially responsible,” Walz told reporters recently.

The governor believes that the relief during a gas tax holiday would be much slower than sending a direct stimulus payment. On the other hand, Republicans who control the Minnesota Senate prefer permanent tax breaks.

Separately, many states have temporarily suspended their gas tax to offset the impact of rising gas prices. For example, last week Connecticut Governor Ned Lamont signed an emergency law calling for a $ 0.25 per capita state tax suspension. gallon from April 1 to June 30. Similarly, Maryland and Georgia have also temporarily suspended their states’ gas taxes.

Other states considering gas tax vacations are Ohio, West Virginia, New York and New Jersey. The ongoing war between Russia and Ukraine has pushed gas prices to near record highs. According to AAA, the national average price of gas is currently around $ 4.24 compared to $ 2.86 per gallon. gallon 12 months ago.

Updated March 31, 2022 at 14.08

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