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Tax Breaks for Seniors, Veterans Advance in House

Minnesota House Republicans went to work today on their pledge to give back to taxpayers a majority of the state’s nearly $1.9 billion budget surplus. Members of the House tax committee heard several GOP-backed bills to exempt Social Security income from state taxes. There are five similar House bills that would phase out the taxes senior citizens pay on their Social Security income….The bills were laid over for possible inclusion in the House omnibus tax bill. The committee also advanced a measure to exempt military retirement pay from Minnesota’s income tax. The proposed tax break would be phased in over five years. Read More…

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