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Walz, lawmakers announce framework agreement for additional spending, including $4 billion tax bill – WCCO

ST. PAUL, Minnesota (WCCO) – Gov. Tim Walz and legislative leaders announced a framework agreement Monday for a supplementary budget to spend the state’s surplus.

The bipartisan agreement includes $1 billion for education, another billion for health care and social services and $450 million for public safety. It also includes $1.5 billion in “additional investments” and $1.4 billion in “capital investment projects”.

“It’s really a good deal. It is a responsible agreement, an agreement of compromise. It’s good for the people of Minnesota. As you hear here, what you’re going to get out of this is you’re going to get relief, you’re going to get tax relief, you’re going to get bipartisan engagement around public safety, you’re going to get funds for education and you’re going to get a reduction in some of those costs,” Walz said. “The parameters have been set and they have been done in a way that, again, should make Minnesotans proud.”

A $4 billion tax bill is included in the deal, and $4 billion is set aside “to help the state manage future economic uncertainty.”

“In addition to returning money, this bipartisan agreement provides targeted investments in public safety, education, retirement homes and basic infrastructure projects,” the Senate Majority Leader said. Jeremy Miller. “But there hasn’t been a final decision on really anything at this point. Otherwise, we’d have the bills done and on the governor’s desk.

Details of the plan “will be finalized in the coming days,” Walz’s office said.

“We have reached bipartisan agreement on a budget framework that invests heavily in economic security, education, health care and public safety for families to address the challenges Minnesotans face,” the president said. the House, Melissa Hortman. “It’s a positive step forward, but there’s still a lot of work ahead of us in this last week of the legislative session.”

Last month, lawmakers struck a key bipartisan deal on frontline worker bonuses and the unemployment trust fund. After that deal, $6 billion remained of the state’s record $9.2 billion surplus. Lawmakers passed a two-year budget last year.

In a divided legislature, Republicans and Democrats start the session apart, and at the end of it they have to close the gaps and come to an agreement to do anything. Agreeing on a budget framework like this is a key step in this process.

This week, lawmakers will meet in special committees focused on specific policy areas to try to hammer out the details.

The 2022 legislative session ends on May 23. Walz said he would not call a special session.

This agreement is for a supplementary budget, that is to say, it is simply a supplement. The two-year state budget now open government was set last year.


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