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State Representative Tara Mack
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-5506
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E-mail update
The details of Gov. Dayton's budget plan
Hello from the Capitol!
Gov. Mark Dayton revealed his budget plan Tuesday. Here are the main bullet points:
?New fifth tier income-tax rate of 13.95% for anyone earning over $500,000. (Note: Blinks off in two years or when the economy improves.)
?New fourth tier income-tax rate of 10.95% for singles earning $85,000 or married filing jointly earning $150,000.
?State property tax on Home Values over $1 million.
?Closing Corporate and other Loopholes
?Health Care Surcharges including a surcharge on nursing homes paid by residents
?Other Tax Revenues including a car rental tax to help fund Minnesota tourism.
?Payback of K-12 shift by 2023.
?Increase of government spending by 22 percent ($37 billion) in the next biennium.
We are working to recover from a recession and this session we must erase a $6.2 billion shortfall. There are no easy solutions to our fiscal problems, but I continue to favor taking a responsible approach of living within our means and addressing our structural budget problems to put us on a steadier course. The best way to get off this budget shortfall treadmill is by making meaningful reform and that's where I will continue to place my focus. Remember, Minnesota already has another 5 percent more to spend in the upcoming biennium without tax increases. It's our government's unsustainable 27-percent spending increase over the same time that's the problem.
The governor's proposal will not pass the Legislature as it stands. The House has set March 25 as its date to have its own budget targets in place, so that's when negotiations will really get underway. I will keep you posted as things develop.
Have a great weekend!
Sincerely,
Tara
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- Rep. Mack's 2013 survey - (Posted: Apr 22 2013 4:37PM)
- Budget news, health insurance exchange and more - (Posted: Mar 22 2013 12:00AM)
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