How Gov. Dayton's Budget Proposal Could Affect You
Chances are you've heard of Gov. Mark Dayton's controversial budget proposal.
It affects nearly every Minnesotan. Some, more than others. There are tax rebates and tax hikes. And citizens can now find out for yourself exactly how you'll be affected.
Noah Wilcox wanted to know. He's an Edina homeowner. But as a business owner, he spends a lot of his time in St. Paul at the Capitol talking dollars and sense with lawmakers. In the dead of winter, he's admittedly slow to warm up to the Governor's budget proposal of increasing state taxes more than $2 billion dollars over two years.
Wilcox told us "I would hope that we wind up with something other than the current proposal the Governor said is the first word, I hope it's not the last."
Wilcox turned to his computer and clicked on the Governor's blog. It breaks down all the tax cuts and tax hikes of nearly 50 communities. On a personal level, he would get a $500 property tax rebate. Yet professionally, he would see hikes.
Wilcox owns a community bank, employing about 60 people. Governor Dayton's proposal increases the tax burden on the wealthiest 2 percent of Minnesotans and small businesses, including his.
"When small businesses are there making communities vibrant, healthy places to work and raise a family, taking away from those businesses being able to reinvest in the community will have a negative impact," says Wilcox.
That's because his business would pay more on sales tax services too.
However, John Fitzgerald is like the majority of Minnesotans who the Governor says will pay less in taxes. Fitzgerald likes how the numbers look on paper for him, "the state budget has been funded on the back of property taxpayers for years," according to Fitzgerald.
Taxpayers will learn exactly what they'll pay when the Legislature sorts this all out in May.