Walz Releases Revised Budget Plan with Fewer Tax Increases
MINNEAPOLIS (AP) — Gov. Tim Walz has released a revised two-year budget proposal removing nearly $1 billion in proposed tax increases from his initial plan.
The revised proposal Thursday also expands tax relief measures following an improved economic outlook for the state.
The adjusted plan reduces new taxes to about $670 million while increasing tax relief to nearly $1 billion for families, renters, businesses and unemployed workers.
It also eliminates proposed cigarette and estate taxes.
The budget proposal released by Senate Republicans earlier this week features no new tax increases. House Democrats are expected to announce their proposal next week.