Minnesota senate GOP pitches budget with no tax increases
ST. PAUL, Minn. (Valley News Live) -Minnesota senate republicans say they have a plan for a two-year budget that doesn’t include tax increases.
They say it’s designed to help balance the state’s budget after democratic Governor Tim Walz announced a proposal in late January that includes tax hikes on the wealthiest Minnesotans and large companies.
The GOP idea comes out to around $51.9 billion, and features $591 million in tax relief on paycheck protection program loans and tax elimination for unemployment benefits.
Other measures include a 5% cut to government administrative costs, $100 million for unemployment due to the pandemic, and $40 million in broadband, among others.
The budget targets do not factor in aid headed to the state from the federal stimulus package signed by President Joe Biden last week, which is expected to be about $2.6 billion.
Copyright 2021 KVLY. All rights reserved.