My BillsI have introduced House File 1040, which increases the social security income caps to help some of those struggling at the margins of our economy. Minnesota currently allows a subtraction for a portion of a taxpayer’s Social Security benefits subject to federal tax. This legislation fully exempts Social Security benefits from state taxation for Minnesotans with adjusted gross income below $80,000 (for married joint returns) or $62,500 (for single or head of household returns). The subtraction would be phased down based on adjusted gross income instead of provisional income, as well as holding harmless anyone who currently isn’t impacted by a change. Minnesotans believe we should have an equitable economy across the board. With that said, I believe those on fixed incomes including seniors, on the margins of our economy, need our help to address the rising costs of housing, food, and more. This bill stands strong in our values to help those in need while avoiding tax cuts for the richest Minnesotans who have told us loud and clear they don’t need it.  In Minnesota, caring for each other is a cornerstone of our values. Yet, many of our neighbors are dying by suicide each year. Last year, the National Suicide and Crisis Lifeline changed its phone number to 988. This number connects us to peer specialists who are trained on what to say, what to do, and who to call when we are in crisis. However, the demand for this lifesaving service is not being met. You can read more about our initiative to fund 988 here. |