Minnesota taxpayers can expect rebates under $3B bill nearing passage
1 year, 7 months ago

Minnesota taxpayers can expect rebates under $3B bill nearing passage

Associated Press  

ST. PAUL, Minn. — Minnesota taxpayers can expect rebate checks in the next few months and struggling families with children are likely to get additional relief under a $3 billion tax cut bill nearing approval in the Legislature. Democratic Senate Tax Committee Chair Ann Rest, of New Hope, said after House and Senate negotiators unveiled the framework of the bill Wednesday that she was “extremely proud” of the measure, adding that it will provide significant tax relief for families and children. It’s runaway tax season down here,” Senate Minority Leader Mark Johnson, of East Grand Forks, said at a news conference Thursday. The tax bill conference committee was expected to give its final approval to its package Thursday night and send it to the House and Senate floors for final approval.

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History of this topic

Walz signs his first bill of the 2-week-old legislative session, fixes error to save taxpayers $350M
9 months, 3 weeks ago

Walz signs his first bill of the 2-week-old legislative session, fixes error to save taxpayers $350M

Associated Press  

ST. PAUL, Minn. — Gov. Tim Walz signed his first bill of the two-week-old 2024 legislative session on Monday, a correction to last year’s main tax bill that could have cost Minnesota taxpayers around $350 million next year. Last year’s bill inadvertently used the standard deduction amount from 2019 as the starting point for 2024 state personal income taxes, instead …

Minnesota’s budget surplus grows to a projected $2.4 billion, fueling debate over spending
1 year, 2 months ago

Minnesota’s budget surplus grows to a projected $2.4 billion, fueling debate over spending

Associated Press  

ST. PAUL, Minn. — Minnesota’s budget surplus has grown to a projected $2.4 billion, and that’s already fueling the debate over spending and taxes ahead of the 2024 legislative session. A report from Minnesota Management and Budget this week said the state ended its previous two-year budget cycle with a balance around $820 million higher than estimated when the session …

Minnesota governor signs ‘One Minnesota Budget’ as Democrats celebrate their top goals becoming law
1 year, 6 months ago

Minnesota governor signs ‘One Minnesota Budget’ as Democrats celebrate their top goals becoming law

Associated Press  

ST. PAUL, Minn. — As hundreds of people cheered on the lawn around him, Minnesota Democratic Gov. Tim Walz signed a document to symbolize the passage of his $72 billion “One Minnesota Budget” at a celebratory ceremony on the front steps of the State Capitol Wednesday morning. “And so, we don’t need folks who say, ‘I wonder how this community …

Minnesota Legislature adjourns after passing $72B budget; Democrats celebrate as GOP hits tax hikes
1 year, 7 months ago

Minnesota Legislature adjourns after passing $72B budget; Democrats celebrate as GOP hits tax hikes

Associated Press  

ST. PAUL, Minn. — The Minnesota Legislature put the final touches on a $72 billion state budget and adjourned for the year Monday night as Democrats celebrated enacting an ambitious agenda that ranged from protecting abortion rights, to providing more resources for education, to legalizing marijuana. The big tax bill of the session, which cleared its final test Sunday evening, …

Minnesota Legislature shapes budget bills as deadline looms
1 year, 7 months ago

Minnesota Legislature shapes budget bills as deadline looms

Associated Press  

Minn. — The Minnesota Legislature is toiling away with only two full weeks left in a productive 2023 session. GUN CONTROL The House public safety budget bill contains two gun safety proposals: a “red flag law” allowing temporary confiscation of guns from people judged to be an immediate threat to themselves or others and expanded background checks for firearms transfers. …

Minnesota Legislature to return with much done, much to do
1 year, 8 months ago

Minnesota Legislature to return with much done, much to do

Associated Press  

ST. PAUL, Minn. — The Minnesota Legislature will return from its Easter-Passover break on Tuesday with a remarkably high number of bills already signed into law, but with plenty of work ahead to complete a balanced two-year budget in the six weeks before the mandatory adjournment on May 22. ABORTION Minnesota Democrats credit voter anger over last summer’s U.S. Supreme …

Minnesota surplus holds steady; sets stage for budget debate
1 year, 9 months ago

Minnesota surplus holds steady; sets stage for budget debate

Associated Press  

ST. PAUL, Minn. — An updated forecast put Minnesota’s budget surplus Monday at a still-enormous $17.5 billion, reflecting an improvement in the state’s fiscal picture and setting the stage for the nitty-gritty of the Legislature’s debates on spending and taxes. Tim Walz’s proposed $65 billion budget includes a combination of spending increases and tax credits to return some of the …

Minnesota governor still wants tax rebates from huge surplus
1 year, 11 months ago

Minnesota governor still wants tax rebates from huge surplus

Associated Press  

ST. PAUL, Minn. — Minnesota Gov. Tim Walz said Friday that his budget proposal will include tax rebates from the state’s enormous $17.6 billion budget surplus but conceded that the payments will be smaller that he once hoped. “I think there’s a sense out there amongst Minnesotans, whether they’re conservative or liberal, that a little bit of the surplus could …

Divided Minnesota Legislature will return with much undone
2 years, 8 months ago

Divided Minnesota Legislature will return with much undone

Associated Press  

ST. PAUL, Minn. — A deeply divided Minnesota Legislature returns from its Easter-Passover break Tuesday with just five weeks left to decide what to do with the state’s $9.25 billion budget surplus plus $1.2 billion in unspent federal pandemic relief. But the Minnesota Budget Project calculates that the House Democratic plan currently contains a net increase of $4.9 billion in …

Minnesota businesses see tax hike amid UI impasse at Capitol
2 years, 9 months ago

Minnesota businesses see tax hike amid UI impasse at Capitol

Associated Press  

ST. PAUL, Minn. — Since construction was deemed an essential industry during the COVID-19 pandemic, engineering consulting firm WSB largely avoided layoffs to its workforce of more than 600 people for the last two years. “It’s going to shift my ability to provide benefits or other opportunities for my staff.” Employers across Minnesota are getting bills for higher unemployment insurance …

Deal to stop Minnesota business tax increase remains elusive
2 years, 9 months ago

Deal to stop Minnesota business tax increase remains elusive

Associated Press  

ST. PAUL, Minn. — Minnesota legislative leaders remain so far apart on a deal to avert a looming increase in unemployment insurance taxes on businesses that they couldn’t even agree Thursday on whether the deadline is next Tuesday, or April 30. “Businesses are staring down a massive tax increase and Democrats in the House are doing absolutely nothing about it,” …

Already-huge Minnesota budget surplus grows to $9.25 billion
2 years, 9 months ago

Already-huge Minnesota budget surplus grows to $9.25 billion

Associated Press  

ST. PAUL, Minn. — Minnesota’s already-huge budget surplus has become even more enormous, growing to a projected $9.25 billion, the Walz administration announced Monday as they cautioned that inflation and Russia’s invasion of Ukraine pose some significant risks to the optimistic outlook. While MMB Commissioner Jim Showalter told reporters the state is seeing a “significant improvement” in revenues from the …

Minnesota Senate GOP unveils massive $8.5B tax cut proposal
2 years, 9 months ago

Minnesota Senate GOP unveils massive $8.5B tax cut proposal

Associated Press  

ST. PAUL, Minn. — Minnesota Senate Republicans on Thursday announced a tax cut proposal that would cost more than $8.5 billion over the next three years, which they say would make it the largest in the state’s history. It would use up roughly $3.5 billion of the state’s $7.7 billion projected surplus in the current and cut into the next …

Minnesota House debate bogs down on finishing $52B budget
3 years, 5 months ago

Minnesota House debate bogs down on finishing $52B budget

Associated Press  

MINNEAPOLIS — The Minnesota Legislature worked into the early hours Thursday to try to finish off a $52 billion, two-year budget after working into the early hours the night before to pass a bill that ends Gov. The emergency powers language was added early Wednesday to a state government and elections budget bill shortly after the Democratic governor said he …

EXPLAINER: A look at what’s in Minnesota’s big budget bills
3 years, 5 months ago

EXPLAINER: A look at what’s in Minnesota’s big budget bills

Associated Press  

MINNEAPOLIS — The Minnesota Legislature approached the finish line Wednesday on a $52 billion state government budget for the next two years. Here’s a look at some high points of the big budget bills: PUBLIC SAFETY The public safety budget bill includes new limits on no-knock warrants and confidential informants, revamping a statewide police misconduct database to create an early …

Minnesota lawmakers to hand out nearly $1B in tax cuts
3 years, 6 months ago

Minnesota lawmakers to hand out nearly $1B in tax cuts

Associated Press  

MINNEAPOLIS — After a session marked early on by talk of possible tax increases, the Minnesota Legislature was on track Monday to hand out serious tax relief to unemployed workers and businesses. The final tax bill agreed to by lawmakers last week features nearly $1 billion in tax cuts over the next four years, including about $650 million in tax …

Minnesota House GOP filibusters in contentious budget debate
3 years, 6 months ago

Minnesota House GOP filibusters in contentious budget debate

Associated Press  

MINNEAPOLIS — The Minnesota House launched into a long, contentious debate Thursday that delayed its first floor votes on the big budget bills that lawmakers were unable to pass before time ran out on the year’s regular session last month. “I think we’re going to have a bumpy ride in the Minnesota House,” Democratic House Speaker Melissa Hortman, of Brooklyn …

Minnesota to get $200M more than expected in federal aid
3 years, 7 months ago

Minnesota to get $200M more than expected in federal aid

Associated Press  

MINNEAPOLIS — Minnesota’s state government will get about $200 million more than it was expecting under President Joe Biden’s coronavirus relief package, and Democratic Gov. Tim Walz expressed hope Monday that new guidelines over how states can spend the aid might help speed up the slow pace of negotiations over the state’s next budget. The legislative session is due to …

Walz proposes tax hikes on the rich to balance state budget
3 years, 10 months ago

Walz proposes tax hikes on the rich to balance state budget

Associated Press  

Tim Walz proposed raising taxes on the wealthiest Minnesotans and large companies Tuesday to help plug a projected $1.28 billion gap in the next two-year budget, while calling for more spending on education and on helping the state recover from the coronavirus pandemic. Republicans called his proposed tax hikes “hugely regressive.” They said his budget spends too much while failing …

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