Minnesota Budget Targets Now Include $3 Billion For Tax Cuts

CBS Minnesota

March 22, 2023

ST. PAUL - Democratic legislative leaders and Gov. Tim Walz agreed Tuesday on broad budget targets that add up to nearly $17.9 billion in new spending, including $3 billion for tax cuts, but the details of where the money will go remain to be negotiated.

Agreeing on the targets was a necessary step so that legislators can begin work in earnest on setting a balanced state budget for the next two years.

The agreement does not specify how they'll cut taxes by $3 billion out of the state's $17.5 billion budget surplus. House Speaker Melissa Hortman, of Brooklyn Park, indicated she has softened on the governor's proposal for direct tax rebate checks, saying there's "definitely room" for "nice-sized checks" in the targets and there's a "commitment to do something" about taxation of Social Security.

Click https://www.cbsnews.com/minnes... for a CBS News video report.

CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.