St. Paul, MN (NNCNOW.com) --- Following the release of a reformed budget deficit in Minnesota, Governor Mark Dayton has revised his budget proposal for the state.
Dayton will still be asking the wealthiest 2% of Minnesotans to pay their fair share in taxes and hopes to close tax loopholes that he says a handful of corporations take advantage of.
Dayton's new proposal also calls for property tax relief by increasing funding for the renter’s credit, fully-funding the homeowner’s property tax refund program, and increasing aid to local governments by $120 million.
The Governor's budget will also invest $86.5 million in economic development initiatives in hopes of creating thousands of jobs and leverage nearly $1.5 billion in additional private investment in Minnesota's economy.
Dayton's new budget still includes much of the proposed increase in funding for education in Minnesota.
The Governor’s budget would provide access to high-quality early education for 10,000 young children, fund all-day Kindergarten for 46,000 kids, and increase school funding for every district in the state.
Dayton is hoping to invest $640 million in improving education in the state.
For more information on Governor Dayton's new budget proposal, you can log onto the Governor's Budget for a Better Minnesota webpage.
We have a crew at the Minnesota Capitol and will have a full report on the Governor's new budget proposal and how Northland lawmakers are reacting to the new numbers coming up tonight on the KBJR 6 and Range 11 news at 5pm and 6pm.
Posted to the web by Krista Burns