Walz proposes tax hikes on the rich to balance state budget
January 27, 2021 5:59AM CST
Minnesota Gov. Tim Walz speaks from the Governor’s Reception room at the State Capitol, to discuss the latest steps in his response to COVID-19, Wednesday, Nov. 18, 2020, in St. Paul, Minn. (Glen Stubbe/Star Tribune via AP, Pool)
MINNEAPOLIS (AP) — Gov. Tim Walz has proposed raising taxes on the wealthiest Minnesotans and large companies to help plug a projected $1.28 billion gap in the next two-year budget.
He also proposed in his budget announcement Tuesday to increase spending on education and on helping the state recover from the coronavirus pandemic.
The announcement sets the stage for months of debate at the Capitol. Republicans who control the Minnesota Senate say they won’t accept tax increases to balance the budget. Senate Majority Leader Paul Gazelka says the state should tighten its belt, cut spending and tap its budget reserve instead.
