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.
Rep. Tony Jurgens (R-Cottage Grove) sponsors legislation that targets 'lunch shaming' of students who can't afford to pay for school lunches.
With most committees, subcommittees and divisions up and running again, an increasingly hectic schedule looks likely as the first deadline is less than three weeks away. Fro...
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As medical marijuana enrollments expand in Minnesota, some lawmakers believe the sizable tax on its manufacturers should shrink.
A lawsuit between the state and the 3M Company has been settled, but some lawmakers’ questions about it have not.
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The House Higher Education and Career Readiness Policy and Finance Committee reviewed the process of selection U of M regents.
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