SAINT PAUL, Minn. – On Thursday, the Minnesota Senate Taxes Committee heard Senator Aric Putnam’s bill (SF 15) to eliminate 100% of the tax on Social Security benefits. It would also reform taxes on pension income of state employees who are not eligible to participate in the social security system, which includes first responders, police officers, firefighters, and some teachers across the state.
“This bill is not only about money but also about what and whom we value,” said Senator Putnam. “I’ve heard so many stories about this issue in our community and throughout Minnesota, how people’s lives are impacted by these taxes. Whether we are talking about social security benefits or a firefighter’s pension, this is our chance to show our respect for those who came before us and to honor the work of those who have served us.”
Minnesota is one of eleven states that currently taxes some form of income taxes on social security benefits. The Department of Revenue estimates that eliminating Social Security tax in Minnesota would affect more than 400,000 tax returns in 2023.
The bill was laid over in the Taxes Committee, with public testimony on SF 15 starting on Tuesday, January 17 at 8:30 a.m.