BREAKING NEWS Shooting in SE Rochester, one sent to hospital Full Story

House Democratic bill hikes corporate taxes to help schools

Minnesota House - AP image

Minnesota House Democrats have unveiled a tax bill that includes $1.2 billion in higher taxes, mostly on corporate foreign profits, and they propose to spend about three-fourths of the new revenues on education.

Posted: Apr 8, 2019 10:35 AM

ST. PAUL, Minn. (AP) — Minnesota House Democrats have unveiled a tax bill that includes $1.2 billion in higher taxes, mostly on corporate foreign profits, and they propose to spend about three-fourths of the new revenues on education.

Leaders of the House Democratic majority said Monday that most individual Minnesotans would see tax cuts under their proposal. The bill would bring the state's tax code into conformity with the 2017 federal tax overhaul.

Tax chairman Paul Marquart says matching the federal standard deduction would result in tax cuts for two-thirds of Minnesotans, and it will simplify filing because 93 percent of filers would take the standard deduction.

The House proposal sets up what are expected to be difficult negotiations with the GOP majority in the Senate, where leaders have been adamant against raising taxes.

Article Comments

Mason City
Few Clouds
37° wxIcon
Hi: 44° Lo: 31°
Feels Like: 29°
Albert Lea
Scattered Clouds
37° wxIcon
Hi: 43° Lo: 30°
Feels Like: 32°
Austin
Overcast
41° wxIcon
Hi: 45° Lo: 34°
Feels Like: 35°
Charles City
Overcast
39° wxIcon
Hi: 47° Lo: 33°
Feels Like: 34°
Rochester
Overcast
38° wxIcon
Hi: 45° Lo: 31°
Feels Like: 32°
Sunshine is back in the forecast for the rest of the week
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

NIACC men's basketball season preview

Image

Austin, Lourdes falls in state quarterfinals

Image

SAW: Sam Amusan of Century

Image

Mason City homeowner disarms prowler

Image

Chris' PM Weather Forecast

Image

Low carb diets

Image

Garage fire in Rochester

Image

Shots fired at KFC

Image

Oldest woman to qualify for Boston Marathon in all 50 States

Image

55 New US Citizens for Rochester

Community Events