Minn. GOP proposes $1.35 billion in tax cuts as budget debate nears – North Dakota News

Minn. GOP proposes $1.35 billion in tax cuts as budget debate nears – North Dakota News

The bottom line is that the state taxpayer-funded budget likely will be around $46 billion for the two years beginning July 1, but details need to be decided by the constitutional legislative adjournment date in two months.

A key point of disagreement appears to be tax cuts.

House Republicans’ desire to cut taxes $1.35 billion over the next two years would take most of the state’s projected $1.65 billion surplus.

That is more than the $900 million in tax breaks Senate Republicans announced last week and the $300 million Democratic Gov. Mark Dayton included in his updated budget plan released Friday.

Republicans say taxpayers pay the state too much and should get some money back.

The Taxes Committee will decide how tax cuts are arranged, House Speaker Kurt Daudt, R-Crown, said, with an emphasis placed on helping the middle-class.

No income tax cuts are expected, Daudt said, and automatic tax increases now in law for tobacco products and statewide business taxes likely will disappear in House legislation.

The House GOP’s announcement on Monday came as part of a budget framework that would spend more than $46 billion over the next two years, documents presented to the House Ways and Means Committee indicate. The budget that ends June 30 is expected to spend nearly $42 billion.

“We want to make sure we keep our government spending in check,” Daudt said.

Daudt and other House leaders’ Monday announcement said finance committees will decide specifics about how to spend the money, but with guidance from leaders and the GOP caucus in general.

“We are going to try to bend down the growth of government,” Chairman Jim Knoblach, R-St….

click here to read more.

Share this post

Post Comment