In his final budget adjustments, Gov. Mark Dayton on Friday announced he would spend $226 million of the state’s projected $329 million surplus, with an emphasis on school safety and education, transportation infrastructure, expanding broadband and altering taxes to conform to recent changes in federal law.
Dayton’s plan, which he called “almost revenue neutral,” centers on the federal Tax Cuts and Jobs Act of 2017 and then hinges on many of the governor’s top priorities. “I’m going to warn you in advance,” he said. “This is complicated.”
The governor’s plan includes $20 million in revenue changes – taxes – by reinstating business and industrial property taxes, restoring tobacco and premium cigar taxes, adding new taxes to exempt data centers and ending certain corporate tax reliefs afforded in the federal code. Dayton pitched expanding the Working Family Tax Credit and separating the state income tax system from the federal government’s system by using adjusted gross income instead of federal taxable income – a change that would give 1.9 million Minnesotans an average of $117 in tax relief.
The Minnesota Investment Fund is designed to create jobs, but the report’s impact is unclear.
Intermediate school districts in Minnesota often face a unique set of challenges when it comes to educating students.
Rep. Jeff Backer (R-Browns Valley) told the House Taxes Committee Wednesday that he believes electricity is on par with food and clothing — two items exempt from sales tax in Minnesota.
Public safety committee discusses the findings of the Commission on Juvenile Sentencing for Heinous Crimes.
The new council would provide grants to help develop and promote Minnesota’s wine industry.
State officials apologized to the House Subcommittee on Aging and Long-Term Care Wednesday for a now-infamous backlog of senior mistreatment investigations, and explained what they are doing to fix the crisis.
A House subcommittee heard emotional testimony from current and former child care providers who shared their struggles, highlighting reasons they believe there’s a child care crisis in Minnesota that not only impacts providers, but Minnesotans who don’t have access to affordable child care.
Updated 3:44 p.m. The state has a $329 million projected budget surplus for the remainder of this biennium, Minnesota Management and Budget announced Wednesday. In its 2...
Administration officials and leaders of the state’s public colleges and universities outlined their bonding requests to the House Capital Investment Committee.
The latest numbers are a $517 million swing from the November forecast
The state’s latest economic forecast projects a budget deficit of $188 million for the current two-year biennium, and a $586 million deficit for the 2020-21 biennium
The budget process explained — and why it matters