Gov. Walz, MN Lawmakers Agree On 'Once In A Generation Tax Cut'

ST. PAUL, MN — Gov. Tim Walz and the divided state legislature Monday announced that they have agreed on a broad bipartisan framework for the state budget, including a "once in a generation tax cut."

The budget will include $4 billion to invest in education, public safety, and health care and $4 billion for a tax bill to provide financial relief for Minnesotans.

Details of the budget will be finalized in the days to come, officials said.

"With an unprecedented surplus, we have the ability to make significant investments in the things that will improve Minnesotans’ lives, like health care, public safety, and education, while also providing tax cuts and putting money in Minnesotans’ pockets," Walz said in a statement.

"Getting money back to the people has been a top priority for Republicans this session and I'm very happy we were able to accomplish this with permanent ongoing tax relief for hardworking Minnesotans, families, and seniors," Senate Majority Leader Miller, who leads the Republican-controlled Senate, said.

"We have reached a bipartisan agreement on a budget framework that makes strong investments in families' economic security, education, health care, and public safety to address the challenges Minnesotans are facing," Hortman, who leads the Democratically-controlled House, said.

Read the budget framework released Monday morning below: