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Minnesota lawmakers begin debating how to use budget surplus


Minnesota lawmakers begin debating how to use budget surplus
Minnesota lawmakers begin debating how to use budget surplus
By Holly Bernstein | February 26, 2021 at 8:44 PM CST - Updated February 26 at 8:44 PM
ST. PAUL, Minn. (KEYC) — Minnesota economists say the state’s budget outlook has swung from a $1.3 billion deficit to a $1.6 billion surplus.
According to the Minnesota Department of Management and Budget, the numbers are due to an improved US economic outlook, which has been bolstered by stimulus measures the federal government has taken since the state department issued its last forecast in November.
The agency cites a higher revenue forecast, lower projected state spending and an increased surplus for the current fiscal year, but they say the rising tide hasn’t lifted all boats as unemployment continues to disproportionately impact lower-wage workers. ....

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Local lawmakers react to Walz's budget proposal


Local lawmakers react to Walz’s budget proposal
Local lawmakers react to Walz’s budget proposal
By Holly Bernstein | January 26, 2021 at 10:18 PM CST - Updated January 26 at 10:35 PM
MANKATO, Minn. (KEYC) — Gov. Tim Walz has released his $52.4 billion two-year budget proposal.
Walz has proposed raising taxes on the wealthiest Minnesotans and large companies to help bridge a $1.28 billion gap. He also proposed an increase in spending on education, measures to support working families and proposals on helping the state recover from the Coronavirus pandemic.
The governor told Minnesotans not to believe talk of seeing an income tax increase.
“Income tax that we’re talking about will get .7 percent of the population, 99.3 percent of people will not see that. In fact, over a million families will see a cut in that,” he said. ....

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