St. Paul, MN (NNCNOW.com) --- Increasing funds to public schools and reforming Minnesota's tax system are just a few of the budget plans that Governor Mark Dayton has announced in his 2014-2015 budget proposal.
Governor Dayton is proposing to raise $2.1 billion more in state taxes, in part by taxing more items, such as cigarettes and tobacco, in a tradeoff for a lowered rate.
In his proposal, the Governor's budget would provide early education for 11,000 young children, optional All-Day Kindergarten for 46,000 kids and increase K-12 funding by $52 per student.
The Governor’s budget also hopes to invest an additional $80 million in the Minnesota State Grant Program in order to help thousands of students achieve their dream of attending college.
Governor Dayton also proposes to reform the tax system in Minnesota by asking the wealthiest 2% to pay their fair share in taxes. The Governor says that his budget also closes corporate tax loopholes and lowers the state sales tax rate 20%.
The Governor's budget proposal also hopes to give some relief to middle class families when it comes to property taxes by offering a property tax rebate of up to $500 for Minnesota homeowners.
The Governor's proposals would also increase local government aid by 19% and county program aid by 24%, but reduce state and local property taxes by 9.7%
“If the investments in my budget proposal are made, they will yield returns in new jobs, private investments, vibrant communities and additional state and local tax revenues; and they will help keep our economy moving forward,” said Governor Dayton. “They represent my best judgment about what Minnesota needs to grow our economy, expand our middle class, improve our quality of life and take care of those most in need.”
Tune in for tonight's newscasts for more information on Governor Mark Dayton's budget proposal as well as reaction from Northland lawmakers.
Posted to the web by Krista Burns