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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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Minnesota Lawmakers OK $217M Financial Relief Package


Minnesota Lawmakers OK $217M Financial Relief Package
The funds are designed to serve as a stopgap measure until the federal government passes a relief bill of its own.
Minnesota State Capitol building
Shutterstock
Minnesota lawmakers on Monday night signed off on a $216.5 million relief package to help small businesses hit hard by the pandemic and subsequent shutdowns.
The news provides a welcome sigh of relief for many business owners, though lawmakers have acknowledged that the package will only serve as a temporary stopgap measure until federal financial aid comes through.
Then there’s some uncertainty about when funds will reach businesses. Speaking to reporters on Monday, Rep. David Baker, R-Willmar, said that some of the money may not be distributed until early next month. ....

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