A national report confirms what many Minnesotans already know: Minnesota’s tax system does not share the responsibility for funding public services fairly. The Minnesotans with the highest incomes pay the smallest share of their incomes in state and local taxes.
An educated Minnesota is critical for the state’s economic success. Governor Dayton’s FY 2014-15 budget proposal demonstrates his vision for education in Minnesota as he invests nearly $600 million in additional resources for E-12 and higher education.
How important is it for Minnesota to reform our tax system? According to an issue brief we recently released, it’s very important and we need to do it now.
After many years of budget deficits and deep cuts to services, it’s time to instead invest in our communities and our future. We’ve long argued for a tax system that more adequately funds our state’s priorities and is based more on the ability to pay.
The 2013 Minnesota Legislature faces some of the most critical issues in generations when it meets for the first time today. Minnesota faces a $1.1 billion shortfall in FY 2014-15 ($2.0 billion when inflation is included) and is suffering from years of deficits, budget gimmicks and quick fixes.
The question of who is in the “47 percent” still resonates. I found that out when I spoke at a public policy forum held by AccountAbility Minnesota about what’s at stake for Minnesota’s low-income families in the federal and state tax policy debates.
The state’s cycle of budget deficits continues. That’s the news from this morning’s release of the November 2012 Economic Forecast. The state ended the August special session with a $1.1 billion deficit projected for the FY 2014-15 biennium. And that’s where the number stands in the new forecast. When taking the impact of inflation into account, the deficit is closer to $2.0 billion in FY 2014-15 and $2.1 billion in FY 2016-17.
Income inequalities between Minnesota’s richest and poorest families continue to widen and endanger the state’s future, according to a recent national report.
With the June Supreme Court decision and 2012 presidential election behind us, it is now clear that the nation’s health reform law – the Affordable Care Act – is here to stay. That’s great news for Minnesotans. Many have already begun to benefit from the law, including young adults who are now able to stay on their parents’ insurance until age 26. And many more Minnesotans will be able to access affordable health insurance as other major provisions take effect in 2014.
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