Minnsights Blog

At the beginning of the 2023 session, lawmakers had a nearly $18 billion budget surplus. This historic budget position could have provided relief for job creators and fuel the growth of Minnesota’s economy. Instead, a majority of this sum was promised to spending increases. The general fund budget increased $19.3 billion for 2024/25. That’s an increase of 37% and will put the state in a structural deficit for fiscal years 2026/27.

Despite a historic nearly $18 billion budget surplus and Minnesota’s already high-tax environment, this session the legislature increased taxes by nearly $10 billion over the next four years. Although some taxes decreased mostly for lowerincome taxpayers through one-time rebates and refundable tax credits, businesses and taxpayers at all income levels will see permanent cost increases. The process of passing these historic increases lacked transparency. Many bills and provisions were not introduced or allowed public testimony and the language was not provided until the night before a final vote. Minnesota’s corporate and incomes tax rates are already in the top five highest in the nation, which adds headwinds to investment, entrepreneurship, and talent recruitment and retention – all needed for a growing economy.

This week, considering all the talk about politics, and after viewing the presidential debate, I am guessing you're expecting me to talk about politics. Well, no.

As we all know, the November 5 General Election is fast approaching. With that, its important to know about how, and when you can vote in Minnesota.

As we all know, the November 5 General Election is fast approaching. With that, its important to know about how, and when you can vote in Minnesota.