Nearly a month after Gov. Tim Pawlenty formally asked the state of Wisconsin to pony up $106 million in expedited income tax reciprocity payments, there has still been no official response from Wisconsin Gov. Jim Doyle. But PIM has learned that a first meeting on the subject is scheduled for later today. According to a [...]
Well, that was fast.
After days spent languishing in conference over intractable differences between the House and Senate omnibus tax bills, legislative DFLers made a surprising and unconventional move Thursday. And before the day was done, they had formed a new taxes conference committee that proceeded in short order to pass a package of tax hikes [...]
House and Senate conferees have been named for the taxes conference committee that will hold its first meeting tonight. Each chamber has included one Republican among its five appointees.
From the Senate: Taxes Committee chair Tom Bakk (DFL-Cook) plus Democrats Scott Dibble (Minneapolis), Mee Moua (St. Paul), and Rod Skoe (Clearbrook), and Republican Debbie Johnson (Ham [...]
Photo: The Friday scramble for the final version of the House omnibus tax bill (Source: MN House photo gallery)
The latest word is that the House omnibus tax bill (HF2323) should come to the floor around 3 this afternoon.
Here’s the 11-page fiscal workup on the final bill as passed by Ways and Means (PDF).
The revenue numbers [...]
Moments ago, the Senate Taxes Committee passed an amendment from Majority Leader Larry Pogemiller (DFL-Minneapolis) to modify the temporary income tax increases in the chamber’s omnibus tax bill.
The original omnibus proposal by chair Tom Bakk (DFL-Cook) [PIM item] would have imposed across-the-board income tax increases that sunset in 2014. Pogemiller’s amendment changes the sunset provision [...]
In wrapping up the 10-minute press conference that followed the introduction of the Senate’s omnibus tax bill yesterday, taxes chair and 2010 gubernatorial candidate Tom Bakk (DFL-Cook) (pictured) was asked why he had chosen to make an income tax rollback to 1998 levels the centerpiece of his plan. His response is worth noting in its [...]
As we predicted in last Friday’s edition of the PIM Weekly Report, Sen. Tom Bakk’s (DFL-Cook) (pictured) omnibus tax bill seeks to raise its entire revenue target–$2.2 billion–by essentially reinstating the tax rates that existed in the state in 1998, before the first of a pair of extensive income tax cuts during the Jesse Ventura [...]
Here’s a quick run-through of the marquee proposals from Rep. Ann Lenczewski’s (DFL-Bloomington) House omnibus tax bill, offered this morning as a delete-everything amendment to HF2323. (All revenue estimates are for the 2010-11 biennium.)
A new fourth income tax bracket of 9 percent would kick in on adjusted gross income over the threshold of $300,000 for [...]
If the House Taxes Committee were to put a bill from Rep. Tom Rukavina (DFL-Virgina) (pictured) in its omnibus tax plan, its anointed mission to come up with $1.5 billion in new revenue this session would be nearly completed in a single stroke.
Rukavina has a simple plan for raising $1.3 billion in additional revenue during [...]
If history is any guide, the legislative tax committees that are mulling ways to raise new revenue to help close Minnesota’s $4.7 billion budget gap may be pushed to embrace an income tax surcharge as part of the solution. Some DFLers think this approach, which was last used during the Quie-era budget crisis of the [...]
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