DFL Proposes Significantly Smaller 'Walz Checks'

ST. PAUL, MN — The Democratic-Farmer-Labor Party on Monday unveiled their omnibus tax bill, which includes a significantly reduced version of the "Walz Checks."

Under the DFL package, the state would send $550 for married couples filing joint returns and $275 for single filers. There would be an additional $275 per dependent for up to three dependents.

The credits would be doled out based on residents' 2021 incomes.

The checks are a far cry from what Gov. Tim Walz proposed in late January.

Under Walz's original proposal, the state would send back nearly $4 billion of the state’s historic $17.6 billion surplus.

Depending on their income, Minnesotan families would have received up to $2,600:

• Couples with a combined income below $150,000 would receive $2,000
• Single filers making less than $75,000 would receive $1,000
• An additional $200 for each dependent, up to three dependents

Other features in the DFL's omnibus tax bill:

The bill includes tax cuts and credits worth about $3 billion through 2025, including a child and working family tax credit worth about $728.4 million annually, or up to $3,000 per child.

On the revenue side of things, the DFL bill creates a new fifth tier for individual income taxes. Married joint filers making at least $1 million per year, or single taxpayers making at least $600,000 a year, would be taxed at a new rate of 10.85 percent.