Advertisement

MN Governor proposes tax increases to help balance budget

(Glen Stubbe/Star Tribune via AP, Pool, File)
(Glen Stubbe/Star Tribune via AP, Pool, File)(Glen Stubbe | AP)
Published: Jan. 27, 2021 at 7:52 AM CST
Email This Link
Share on Pinterest
Share on LinkedIn

MINNEAPOLIS, MN (Dakota News Now) - Gov. Tim Walz has proposed raising taxes on the wealthiest Minnesotans and large companies to help plug a projected $1.28 billion gap in the next two-year budget.

He also proposed in his budget announcement Tuesday to increase spending on education and on helping the state recover from the coronavirus pandemic.

The announcement sets the stage for months of debate at the Capitol.

Republicans who control the Minnesota Senate say they won’t accept tax increases to balance the budget. Senate Majority Leader Paul Gazelka says the state should tighten its belt, cut spending and tap its budget reserve instead.

(Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)

Copyright 2021 Dakota News Now. All rights reserved.