As reported by WCCO in Minneapolis, many Republicans are contending that if ever there was a year to eliminate such taxes, this would be due to the state’s massive $9.25 billion budget surplus. “I hope this was the year. It is a priority for Republicans to eliminate state income taxes on Social Security benefits,” Senate Majority Leader Jeremy Miller told the news network. “We’ve been working on it for a number of years. With a $9.3 billion budget surplus, now is the time to provide seniors this much-deserved tax relief,” he continued.

According to a Minnesota House Research study, 62 percent of Minnesotans who file taxes pay taxes on Social Security income. Minnesota, which is one of just twelve states to tax Social Security benefits, collects about $430 million each year from such taxes.

Meanwhile, also largely due to the budget surplus and high gas prices, Gov. Tim Walz is calling for direct payments in the amount of $500 for single tax filers who earn less than $164,400 and $1,000 for couples who earn less than $273,470.

“With a historic surplus, we have an opportunity to provide direct relief to Minnesotans and invest in the future of our state,” Walz noted in a statement. “Amid global economic uncertainty, direct payments are one of the best ways to make it easier for Minnesotans to pay their bills. Right now, we have the resources to send $1,000 to Minnesota families.”

Like Minnesota, several other states have proposed their own version of stimulus checks to combat current red-hot inflationary pressures.

The most notable example is occurring in California, where Gov. Gavin Newsom and most state Democrats are pushing for a $400 tax refund in the form of a debit card. According to the governor’s office, the refunds would include $400 for each registered vehicle, up to two, that a state resident owns. That means that eligible individuals could potentially receive up to $800 in total from the state to help offset high gas prices. While the measure still has to make it through the state legislature, California residents could see the payments land in their bank accounts as soon as early summer.

Meanwhile, in Pennsylvania, Gov. Tom Wolf is trying to orchestrate the disbursement of up to $2,000 for state families with an income of $80,000 or less. “The cost of everything from gas to groceries is rising, and for Pennsylvanians living paycheck to paycheck that can mean painful decisions,” Wolf said in a news release. “Pennsylvanians deserve to be supported and the opportunity to thrive. Yet my Republican colleagues are sitting on more than $2 billion of support that will need to be returned to the federal government if they don’t pass a plan,” he added.

Ethen Kim Lieser is a Washington state-based Finance and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.

Image: Reuters