Governor Tim Walz (DFL-MN) held a press conference to introduce his proposed budget for 2021-22. To view the press conference click here. One feature of the proposal which prior to the event, drew criticism from the Republican side, is the proposed fifth tier income tax bracket for those making over $1 million. The millionaire’s tax generated this advance response from Senate Majority Leader Paul Gazelka (R-09, Nisswa), “I have been clear since day one of session: we are not balancing the budget with tax increases. A budget that increases taxes is not a Minnesota priority. People have suffered enough already. Employees, entrepreneurs, and many businesses have sacrificed for 11 months. The budget reserve can be used to protect people from hurtful tax increases that will further stretch their family budget and harm our economy. Senate Republicans will ask the government to tighten its own belt before we ever ask Minnesotans to tighten their belts even more.”
As Walz stipulated this will only effect .03% of the state’s population and Gazelka’s response is more of kneejerk reactionary response to taxes in general and not actually, this proposal in specific, unless he intends to protect rich benefactors during this pending pandemic.
The various aspects of the Budget Proposal can be seen here.