Posted on 01/22/2013 4:47:25 AM PST by TurboZamboni
Months in the making, Gov. Mark Dayton's two-year state budget plan is set to be released Tuesday, Jan. 22, and will likely rely heavily on tax increases to solve a projected $1.1 billion deficit and boost spending on his other priority programs.
His plan is the starting point in a tax-and-spending debate that will reach well into spring. With fellow Democrats now in charge of the Legislature, Dayton's plan carries tremendous weight and a high likelihood that much of it will be enacted.
Lawmakers must approve a budget by July 1 to avoid service interruptions. Barring unexpectedly deep spending cuts, the state is expected to spend more than the $35.2 billion that it was on course to shell out in the current two-year budget.
Unlike in 2011, when a newly elected Dayton had just a couple of months to craft his recommendations, the governor has spent much of the last year examining options.
Administration officials say the budget proposal will include a substantial overhaul to the state's tax code, which could potentially affect how much people pay at cash registers and in income and property taxes.
Dayton has long said he would push for higher income taxes on top-end earners, but he hasn't said what that rate would be or at what salary it would kick in.
(Excerpt) Read more at twincities.com ...
I see a more Minnesota plates down here nearly every day.
We’ll see now if conservationism took hold in MN, or if that was just a flirtation.
Democrat governor, Democrat legislature. You poor citizens of Minnesota. Your wallet isn’t safe. Come on over to Wiscosnin where there is sanity in the governor’s office.
I hate this man as much as I hate “The Won.”
I see a more Minnesota plates down here nearly every day.”
...that’s too bad. They’re bringing their shi&&y voting habits with them.
Al Franken, seriously?
You HAD to write this state off after THAT.
Maybe not.
They seem to be bringing their Yankee money south, which is a good thing.
Marx Dayton must think everybody got their money the same way he did.
MN’s most recent tax incident study says the
top 1% ($429k+) pay 24-1/2% of all the state income taxes
top 5% ($183k+) pay 43% of the state income taxes
top 10% pay 56% of the income tax burden
top 50% pay 96% of all MN income taxes
bottom 50% pay 3-1/2 % of taxes...but the top 1% are not paying their “fair share” ??
(bottom 20% pay nothing and get state money back!)
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