Minnesota tax hike for big earners

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.

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This page contains a single entry by hunte293 published on February 15, 2011 3:30 PM.

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