Governor Mark Dayton plans to decrease the state's deficit of $6.2 billion by more than half in the next two years by increasing income taxes of the top 5 percent of earners, the Star Tribune reported.
Dayton outlined a two year budget of $37 billion dollars today.
Dayton described that his budget plan is meant to "keep my promises I made to the people of Minnesota last fall," according to the Pioneer Press.
Ninety-five percent of Minnesota will experience no tax increases, according to Dayton's office.
Dayton planned $775 billion in cuts for health and welfare programs.
He also proposed a Minnesotan property tax on houses greater in value than one million dollars.