Gov. Mark Dayton's $37 billion budget would shave more than half of the state's $6.2 billion deficit over the next two years by increasing income taxes on the wealthiest Minnesotans, something he pledged to do during last year's campaign.
According to Dayton's office, 95% of Minnesotans will experience no tax increase under the proposed budget. Dayton proposes a new income tax tier at 10.95% for joint filers over $150,000 and head of household filers over $130,000; and a temporary income surtax of three percent for all filers over $500,000. He also proposed a statewide property tax on home values over $1,000,000.
Dayton also outlined $775 million in cuts for health and welfare programs on Tuesday, the Associated Press reported. MinnesotaCare is a state-subsidized health care plan for the working poor, who pay premiums on a sliding scale. It offers less generous benefits than federal health care programs.
After some of the most momentous weeks of his presidency, including court victories on gay marriage and Obamacare and an emotional eulogy for the Rev. Clementa Pinckney, President Barack Obama turned his attention back to an ongoing theme of his presidency: Economic fairness.
While the nation's attention turns to the 2016 presidential race and the ever-growing field of candidates, President Barack Obama will try to drive a message he's been repeating since his first campaign: economic fairness.