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Walz tax cut for 1 million families doesn't reach lowest earners

Walz tax cut for 1 million families doesn t reach lowest earners
Some Republicans quickly derided the small amount, with House Minority Leader Kurt Daudt calling it a talking point, that s not a tax cut.
February 13, 2021 6:17pm
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More than 1 million households would see a tax cut albeit a small one under the piece of Gov. Tim Walz s tax plan that would directly affect the most Minnesotans.
When the Democratic governor debuted his budget for the next two years, he presented the expansion of the state s first-tier income tax bracket as a way to help vulnerable Minnesotans financially weather the pandemic. But that proposal would not cut taxes for the state s lowest-income residents, who are already taxed at the lowest rate. And the million families that do benefit would get, on average, an annual tax break of $36. ....

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Tax increase on Minnesota's highest earners renews fair share debate

Tax increase on Minnesota s highest earners renews fair share debate
Briana Bierschbach, Star Tribune
© Star Tribune/Star Tribune/ANTHONY SOUFFLE Star Tribune/Star Tribune/TNS
Minnesota Gov. Tim Walz debuted his state budget plan for the next two years during a press conference Tuesday, Jan. 26, 2021 at the Department of Revenue building in St. Paul.
Gov. Tim Walz s proposal to raise taxes on the wealthiest has reinvigorated a debate in Minnesota: Do top earners pay their fair share, or will his plan hamper a fragile economic recovery?
The centerpiece is a new fifth tier income tax bracket on couples making more than $1 million each year, a jump from the fourth tier income tax enacted eight years ago by his predecessor, former Gov. Mark Dayton. The Walz administration says the COVID-19 pandemic hasn t hit those earners as hard as it has lower-income Minnesotans, who would benefit in Walz s plan through direct aid and tax relief. ....

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Gov. Walz to share his budget proposal in Tuesday news conference

Gov. Walz to share his budget proposal in Tuesday news conference
The announcement is scheduled for noon.
Author:
Gov. Tim Walz on Tuesday will share his budget proposal for the upcoming biennium.
According to a news release, Walz will announce his COVID-19 recovery budget in a news conference at noon. It will be streamed on the governor s YouTube page here.
The State of Minnesota is projected to face a $1.27 billion deficit for the two-year budget that begins July 1, but state leaders are confident the picture will improve when another budget forecast is released in February. Additional federal aid could also improve the state s outlook. ....

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LIVE: Minnesota Gov. Tim Walz announces Minnesota's COVID-19 recovery budget

Watch: Minnesota Gov. Tim Walz announces state s COVID-19 recovery budget
Gov. Tim Walz announced his biennial budget proposal and Minnesota’s COVID-19 recovery budget. Watch a video here.
Written By:
Forum News Service |
11:30 am, Jan. 26, 2021
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Standing in front of the Minnesota History Center in Saint Paul on Jan. 12, 2021, Gov. Tim Walz says he will deploy the state s National Guard to maintain peace through planned protests in the next week. Sarah Mearhoff / Forum News Service
ST. PAUL Gov. Tim Walz joined Minnesota Management and Budget Commissioner Jim Schowalter and Department of Employment and Economic Development Commissioner Steve Grove to announce his biennial budget proposal and Minnesota’s COVID-19 recovery budget Tuesday, Jan. 26. ....

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Tax Windfalls Drive States to Unlikely Role in U.S. Recovery

Tax Windfalls Drive States to Unlikely Role in U.S. Recovery
washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.

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