Minnesota officials found an error in a document. $3 billion tax cut bill A bill passed this spring that could cost taxpayers $352 million over the next two years, but state leaders promised to fix it before it takes effect.
Minnesota Department of Revenue Commissioner Paul Marquardt said: minneapolis star tribune On Friday, it was revealed that his staff had noticed an error while reviewing the nearly 400-page bill.
Lawmakers erroneously used the 2019 standard deduction for the 2024 tax year without including a four-year inflation adjustment. That means the standard deduction for most taxpayers will be $1,600 less.
Marquardt said the error would result in $110 for singles and $210 for married couples in 2024. About 2.3 million returns will be affected if the law is not changed.
Greg Davids, a Republican state legislator, said mistakes can happen when officials are working overtime at the end of a meeting to get everything done. In some cases, lawmakers can resolve the issue by sending a letter outlining their original intentions, but the problem is big enough that a change in the law will probably be necessary, he said.
“Mistakes happen, but this is outrageous,” said Davids, who previously chaired Congress’ tax committee. “That said, if we work together to fix it as soon as we get back, there’s nothing we can’t fix. I hope no one is against fixing it.”
