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Tax Rebate: Will you see a payment worth up to $1,000?

With a larger-than-normal budget surplus, Minnesota Governor Tim Walz is proposing residents receive a stimulus tax rebate worth up to $1,000.

money residents could see from a stimulus tax rebate in Minnesota

The updated plan was released last Thursday with the proposal for $1,000 checks.

The state’s budget surplus has reached $9.25 billion according to Walz’s revised supplemental budget proposal released Monday.

The proposed tax rebate checks are $500 for singles and $1,000 for married couples.

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The program is nick named “Walz Checks.”

Tax rebate checks explained

Walz shared more details about the proposal in a press conference.

The program will help offset the rising costs of gas and groceries Minnesota residents are currently facing.

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The total cost of the rebate program would be around $2 billion dollars out of the $9.25 billion surplus.

Walz wants to give residents enough money to try and get through the Russian and Ukraine conflict and all the inflation issues.

What needs to happen to allow the tax rebate

In order for the tax rebate to pass, it must be passed by the Minnesota Legislature.

The Senate is Republican controlled, while the House is Democrat.

Republicans are looking to use the surplus to create permanent income tax cuts.

Democrats want to help low income residents and fund social programs.

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