Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Gov. Tim Walz's $52.4 billion budget raises taxes on wealthiest Minnesotans


January 27, 2021

Gov. Tim Walz's plan raises taxes raises taxes for couples earning more than $1 million while cutting taxes on lower incomes.

Gov. Tim Walz proposed a $52.4 billion state budget Tuesday that would raise taxes on the wealthiest Minnesotans, corporations and tobacco products while trying to ease the pandemic's burden on students, lower-income families and small business owners.

Walz said the next budget needs to address the uneven economic toll the coronavirus has exacted. He planned to raise taxes for families earning more than $1 million while offering a tax cut to about one million couples making less than $39,810.

"This is a starting point. This is a budget that reflects Minnesota's sense that those who COVID hit the hardest we need to help," Walz said. "It asks folks to pay their fair share."


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