Wednesday, February 16, 2011

Following Illinois' Lead, MN Dem Gov wants to Hike Taxes

ST. PAUL, Minn. — Gov. Mark Dayton looked to the wealthy to erase about half of a $6.2 billion state budget deficit on Tuesday, proposing a new top tax bracket and a temporary income surtax that together would give Minnesota the nation's highest income tax rate.

The Democratic governor's plan would raise nearly $2.9 billion from the top 5 percent of taxpayers, including a new property tax on homes valued at more than $1 million.