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Recently on our blog…- Constitutional budget amendments kept on the sidelines May 17, 2012 Nan Madden
- Tax debate ends with one bill signed, one pocket veto May 14, 2012 Nan Madden
- A few pieces from vetoed tax bill find a home in House File 2690 May 9, 2012 Nan Madden
- Scaled-back tax bill still raises unanswered questions about the future May 9, 2012 Nan Madden
- Tax cuts are a risky way to try to stimulate state’s economy May 4, 2012 Nan Madden
Category Archives: Economy
Tax cuts are a risky way to try to stimulate state’s economy
Proponents of the omnibus tax bill vetoed today by Governor Dayton made the case that the tax cuts it contains – primarily a freeze on the statewide property tax paid by businesses and cabins and incentives for investors in certain … Continue reading
Posted in Budget Proposals, Economy, Taxes
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Lawmakers still considering asking renters to pay for business tax cuts
Posted in Action Opportunity, Economy, Taxes
Tagged omnibus tax bill, property tax refund, renters credit, renters rebate
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New issue brief highlights mixed news from the February Forecast
We recently released our analysis of the State of Minnesota’s February forecast: Surplus Short-Lived as Deficit Looms. It explains how the $323 million surplus gives Minnesota a chance to catch up on some bills, but the projected $1.1 billion shortfall in FY 2014-15 reminds us that we … Continue reading
Posted in Budget Proposals, Economy, Taxes
Tagged deficit, economic forecast, February Forecast, shortfall, surplus
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Agreement is growing: constitutional budget amendments are wrong for Minnesota
The drumbeat of opposition to proposed constitutional budget amendments continues to grow. Individuals, organizations and the news media are increasingly speaking out against amending the state constitution to impose strict restrictions on budget decisions. Minnesota newspapers have featured a number … Continue reading
Posted in Constitutional Amendments, Economy, Taxes
Tagged constitutional amendments, constitutional budget amendments, supermajority, supermajority amendment
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Supermajority requirements are no guarantee of economic success
The reasons to oppose a supermajority requirement to raise state taxes keep coming in. The Center on Budget and Policy Priorities recently released Six Reasons Why Supermajority Requirements to Raise Taxes Are a Bad Idea. I’ve previously written about the … Continue reading
Posted in Constitutional Amendments, Economy, Taxes
Tagged constitutional budget amendments, Economy, jobs, state economies, state taxes, supermajority, unemployment
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Unemployment rate among blacks highlights continuing racial disparities in Minnesota
Minnesota’s black unemployment rate was a shocking 27 percent in the third quarter of 2011 – by far the highest level in the 25 states examined in a recent study by the Economic Policy Institute (EPI). The study, No Relief in 2012 From High Unemployment … Continue reading
National study calls supermajority amendments a ‘bad idea’
A supermajority requirement in Minnesota would not produce promised results, if the experiences of states that already have supermajority rules are any indication. A national study released this week analyzed supermajority requirements in other states and found no evidence that … Continue reading
Posted in Budget Process, Constitutional Amendments, Economy
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Proposal asks Minnesota’s renters to pay the price to end business property tax
Here we go again with another proposal to dramatically cut the Renters’ Credit, a property tax refund for about 300,000 low- and moderate-income Minnesota households. It refunds a portion of the property taxes that renters pay through their rents. More than one-quarter of … Continue reading
Posted in Economy, Taxes
Tagged business property tax, Minnesota budget, property tax refund, property taxes, renters credit, state budget
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Momentum against constitutional budget amendments is building
It wasn’t too long ago that most Minnesotans had not heard about proposed constitutional budget amendments that the Legislature could take up this session. The amendments would create more government gridlock and budget gimmicks, and remove policymakers’ flexibility to respond … Continue reading
