Minnesota Senate Media Services
@mnsenatemedia·10.8K subscribers·6.8K videos
Budget Targets Set
Posted
May 12, 2013
Views
158
May 12, 2013
158
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
24:37Now PlayingSenate Majority Leader Tom Bakk, flanked by Governor Mark Dayton, House Speaker Paul Thissen, House Majority Leader Erin Murphy and Assistant Senate Majority Leader Katie Sieben, announced Sunday, May 12, that the DFL leaders and Governor Dayton have reached an agreement on budget and taxation targets.
Their agreement sets new tax revenues at $2.05 billion dollars and excludes the Senate's proposal to tax clothing and consumer-purchased services. It does include higher income taxes on married couples with taxable income of $250,000 and single filers with $150,000 in taxable earinings. The tax conference committee will determine the rate of taxation for those earners. Furthermore, the agreement would provide $400 million dollars in tax aids and credits.
E-12 Education would receive an additional $475 million dollars in funding, and higher education would gain an additional $250 million dollars. Another $860 million would be directed at reducing the state's dependency on delaying payments to school districts.
The agreement plans for a $800 million dollar bonding bill, which would have to be passed with support from some Republican members. Details of proposed projects were not released, and both legislative bodies must yet pass a bonding bill.
The original plan by the Senate and House to reduce spending in the Health and Human Services arena by $150 million dollars was changed in the agreement. Those programs will face a $50 million dollar net reduction.
With the targets set, much of the budget details will be worked out in conference committee, with the tax conference committee facing the challenge of securing the desired $2.05 billion dollar revenue target.
Other targets include $23 million additional dollars for the environment and agriculture; $102 million in added funding for public safety and the judiciary; $89 million additional dollars for jobs, housing and commerce; $28 million dollars more for state government agencies.
While the Senate passed a transportation package that included about $1 billion dollars in new funding through a gas tax increase and metrowide sales tax for transit, the budget agreement does not yet increase revenue for transportation.
Immediately following the DFL press conference, the Republican leaders met with the media to offer their views on the budget targets.
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
