Tax cuts, students, transparent healthcare, and reliable, affordable energy.
Since the announcement of Minnesota’s projected $7.7 billion surplus, Democrats and Gov. Tim Walz have announced numerous spending proposals that they will consider once the legislative session convenes. And while…
On Dec. 7, Minnesota Management and Budget (MMB) released its budget forecast for Fiscal Year 2022-23 which foresaw a $7.746 billion projected surplus. This immediately sparked a debate about what should be…
Every year, the Tax Foundation publishes the State Business Tax Climate, where they rank states depending on how friendly state taxes are to business. In addition to how much states…
After several delays due to modifications, Democrats in the House of Representatives are poised to vote on their $1.75 trillion Build Back Better spending plan. The bill, which has gone…
Minnesota’s high tax burden is the top reason more people leave the state each year than choose to move here. It’s a costly problem.
Minnesota’s craft brewers have been an economic success story over the last decade. Brewer’s Association data shows 35 craft breweries operating statewide in 2011: in 2020, that number was up to 217,…
Evidence is clear that tax hikes, especially those on income, are very harmful to economic growth since they are more distortionary to productive economic activity than other taxes. Income taxes…
Since the beginning of the pandemic through Sept. 11, state governments have paid out $836 billion in unemployment payments. Minnesota has so far paid out $14.7 billion, with a huge…
On Monday, Sept. 13, House Democrats released a tax proposal that is intended to pay for their $3.5 trillion spending plan. Among other things, the plan raises the U.S. corporate…
Passed in 2017, the Tax Cuts and Jobs Act (TCJA), among other things, capped the State and Local Tax (SALT) deduction — the amount of State and Local Taxes paid that…
When the Tax Cuts and Jobs Act (TCJA) was introduced in 2017, opponents claimed the bill was a giveaway to the rich. Data from the Congressional Budget Office (CBO), however,…
On August 10, Minnesota Management and Budget (MMB) released data showing that “general fund revenues totaled $1.307 billion in July.” This is $67 million (5.4 percent) more than was forecast…
Tobacco taxes hurt low-income Minnesotans, small businesses.
According to the Tax Foundation’s State Business Tax Climate Index, Minnesota has the 46th most favorable tax system for businesses in the country. This is mainly due to high individual…
Every year, the Tax Foundation publishes the State Business Tax Climate Index. The study ranks states not only on how much taxes they impose on businesses, but how well tax…
When the federal government passed three stimulus bills and sent stimulus checks, concerns were raised about the necessity of continuing such payments. This was largely because by mid-2020, it had…
In our report ‘Closing Minnesota’s Budget Deficit: Why we should make spending cuts and not raise taxes,’ we noted that Minnesota already has some of the highest tax rates in…
After the individual income tax and sales tax revenues, residential property tax revenues make up the third-highest proportion of Minnesota’s total state and local tax revenues. According to the Tax…
The Biden administration’s fiscal year 2022 budget would impose a net tax increase of $1.3 trillion. This comes from $2.3 trillion in new taxes on high-income earners and businesses and $998…
On top of tight regulation, Minnesota also taxes liquor heavily compared to most states.
Montana just became the latest state to enact major tax reform reducing corporate and individual income tax burden and simplifying its tax code.
Back in March, I wrote that the so-called ‘COVID Relief Bill’ could block Minnesota’s next governor and legislature from cutting taxes: Senate amendments to the American Rescue Plan Act prohibit the use of any…
According to the Tax Foundation, Minnesota currently has the fifth highest top rate of state income tax in the United States, 9.85%. The budget currently proposed by the Minnesota House…