Dayton ready to lay out Minn. tax, spending wishes
ST. PAUL, Minn. (AP) -- Gov. Mark Dayton is preparing to submit a proposed two-year state budget expected to rely heavily on tax increases to solve a $1.1 billion projected deficit and boost spending to his priority programs.
The budget release Tuesday is the starting point in a tax-and-spending debate that will reach well into spring. With fellow Democrats now in charge of the Legislature, Dayton's plan carries tremendous weight and a high likelihood that much of it will be enacted.
Dayton has long said he would push for higher income taxes on top-end earners, though he has been guarded about what that rate will be and how much someone can make before it will kick in. Sales, property and corporate taxes are also on the table, with rate reductions possible for some.
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