Updated: 03/13/2014 5:21 PM
Created: 03/13/2014 4:41 PM KSTP.com
By: Leslie Dyste
Governor Mark Dayton is urging state Senators to act quickly on a tax cut bill.
Dayton's proposal would extend $300 million in tax deductions and exemptions available at the federal level to state income tax filers. The most significant, a change to the standard deduction for married couples, wouldn't take hold until next year. Another $230 million would compensate for the repeal of new business taxes.
House lawmakers passed a $500 million tax break package last week, but the Senate has yet to take any action.
Dayton said in a conference call Thursday, he wants the bill on his desk within the week. If lawmakers miss that deadline, Dayton says Minnesotans won't be able to claim the tax breaks on this year's returns.
Senators from the DFL party have said they want to make sure the state won't fall back into a deficit.
The Associated Press contributed to this report.