MN Budget Watch The House tax bill passed out of committee by a narrow margin, with Rep. Tom Rukavina providing the last necessary vote, but Rukavina says he may not support the plan on the House floor. Meanwhile, reports Steve Perry in Politics in Minnesota, the Senate omnibus bill would work “by essentially reinstating the tax rates that existed in the state in 1998, before the first of a pair of extensive income tax cuts during the Jesse Ventura adminstration,” and adding a new top bracket of 9.25 percent for adjusted gross incomes over $250,000. The increases would be spread over 85% of all taxpayers, and would revert to today’s levels in 2014.
And over at MinnPost, Doug Grow says it is “virtually impossible to create reform,” despite hard work and careful analysis put into the House bill.
In coming days, amendments will be loaded up on both the House and Senate bills. Then, somehow, the House and Senate majorities will have to come together with a single bill, which almost certainly will be vetoed by the governor, who has pledged no new taxes.
Mary Turck