DFL gubernatorial candidate Mark Dayton's revised budget plan, released Tuesday, would close $4.9 billion of the expected $5.8 billion budget gap, almost a billion short of what is needed.
Highlights of new state revenue he's proposing:
•Increase income taxes on singles making $130,000 a year in taxable income and couples making $150,000 in taxable income = $1.9 billion
•Increase property taxes on homes worth more than $1 million = $95.4 million
•Close loopholes, crack down on tax evaders = $840 million
•Add a state-owned casino at or near the Mall of America = $300 million
Highlights of the cuts he proposed:
•Reduce professional and technical contracts = $425 million
•Reduce the number of K-12 tests = $8 million
•Better coordinate state purchasing = $100 million
•Reduce health care paperwork and move to electronic health record management = $139 million
•Eliminate JOBZ subtractions and credits = $69 million