On Tuesday Governor Tim Walz released his proposal for the upcoming two-year state budget. The $52.4 billion budget proposal would be the largest budget in state history, and it will increase taxes by $1.66 billion. Governor Walz’s plan also proposes a new fifth tier income tax rate at 10.85%, which means Minnesota would have the third highest tax rate in the country. Another notable item included in the budget is $150 million in appropriation bonds for the Minneapolis riots. It is also estimated that Minnesota will face a predicted $1.3 billion budget deficit in the next two years. Senator Eric Pratt (R-Prior Lake) issued the following statement in response: 

“This has been a hard year for our families and businesses, and increasing taxes does nothing to help them,” said Senator Pratt. “We’re still facing a budget deficit, and we should be tightening the purse strings just like so many Minnesotans have had to do.”

“We need to focus on getting kids back in school, getting our businesses back open, getting Minnesotans back to work, getting vaccinations to our most vulnerable residents, and speeding up the economic recovery. We can’t accomplish this by spending more than what we have.”