Rep. Wolgamott Introduces Legislation Proposing $500 Stimulus Checks

(KNSI) — St. Cloud Representative Dan Wolgamott is introducing legislation for $500 stimulus checks for Minnesota taxpayers.

A press release from Representative Wolgamott explains that under the legislation proposed by the Governor and authored by Rep. Wolgamott, single tax filers would receive a one-time payment of $500. Married couples filing jointly would receive a one-time payment of $1,000.

Wolgamott says that “With a $9.25 billion budget surplus we can afford to make direct payments to taxpayers, while also investing in the critical needs of our state.” He says the money would help families cope with rising prices and economic challenges.

The current U.S. inflation rate is 7.87%, up from 7.48% last month and 1.68% last year. According to the Bureau of Labor Statistics, the Consumer Price Index measures the average prices paid by urban consumers for certain goods and services over time. The highest year-over-year spike was in energy costs, which shot up 25.6% from 2021. Food prices went up 7.9%.

Opponents of the measure say they want permanent income tax cuts versus a one-time payment. They propose lowering the first-tier tax rate from 5.35% to 2.8%. That tier applies to the first $41,000 income for joint filings or $28,000 for single filers. The average family earning $75,000 would see a $908 tax cut per year.

If Wolgamott’s bill is passed, stimulus checks could arrive in mailboxes by late summer.

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