ST. PAUL – Representative John Huot (DFL- Rosemount) is championing legislation to increase the standard deduction Minnesotans can claim on their taxes. His bill, HF 886 received a public hearing in the House Tax Committee today.
“Electing the standard deduction is a simpler and faster way for Minnesotans to file their taxes,” said Rep. Huot. “Additionally, increasing the standard deduction through this bill will deliver a bigger tax benefit for working Minnesota families.”
Minnesota is currently not in conformity with federal changes to the standard deduction in the Tax Cuts and Jobs Act of 2017, so the state standard deduction is tied to old federal law. Rep. Huot’s bill would increase the standard deduction by $2,000 for joint filers and would save a married couple earning median income on average $141. About two-thirds of Minnesotans claim the standard deduction.
“All Minnesotans deserve fair taxes and any law change enacted at the state level ought to reflect that,” Rep. Huot concluded.
Discussions on tax conformity have begun and will continue throughout the session.
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