Comparing the progressive and conservative plans for taxes in Minnesota
As corporations continue to raise the prices of everyday goods and essentials, lots of us could use a little boost to keep our budgets balanced. That’s why House progressives proposed a tax plan to save Minnesota families thousands of dollars per year.
Unsurprisingly, conservatives had other ideas.
Once again, conservatives in the Minnesota Legislature have proposed a tax plan that offers massive handouts to the super-wealthy at the expense of our public schools and working families.
Let’s break it down.
Progressive tax plan: more money in the pockets of working families
The progressive budget proposal would help with some of Minnesotans’ biggest expenses, like health care and student loan debt. The plan increases Minnesota’s student loan tax credit to $1,400. That means some much-needed extra cash to those of us with a mountain of student loan debt. The progressive budget would also cap co-pays for the prescription medications that Minnesotans rely on, like insulin and inhalers.
But if you ask a working parent in Minnesota what weighs most heavily on their budget, there’s a good chance they’ll say child care. Progressives get it. Their plan includes a child tax credit for each child under the age of 17 to help cover child care costs.
Progressives in the Minnesota Legislature have responded to the most urgent needs of hardworking Minnesotans with a comprehensive plan.
Conservatives? Not so much.
Conservative tax plan: big payouts for the rich, not much for the rest of us
With a $9.2 billion budget surplus in Minnesota, it’s shocking that conservatives still found a way to shortchange public schools and programs to fund their lopsided tax plan, but that’s exactly what they’re trying to do.
Under their plan, 38% of tax cuts would go to the wealthiest 20% of Minnesotans, with $43 million going to people who make over half a million dollars a year.
Meanwhile, the lowest 20% of earners would only see 2%. 500,000 working households wouldn’t even be eligible for a tax cut at all. Plus, the plan includes no tax credits for student loans or child care.
The progressive tax proposal could save the average working Minnesota family thousands of dollars per year. The conservative tax plan pales in comparison, yet still comes with a hefty price tag.
In fact, the conservative plan would spend eight times more on tax cuts for the wealthy than on their entire education budget.
Stand up to conservatives’ unfair agenda
Minnesotans don’t want more tax breaks for the super wealthy. We want good schools, thriving communities, and healthy families.
Conservatives’ priorities are out of whack, and we deserve better. Sign up to hold conservatives accountable, and together we’ll work toward a better, fairer, more prosperous Minnesota.