State of Minnesota pulls in nearly $500 million more than expected in April
Minnesota’s state government took in nearly $500 million more in taxes than expected in April, according to data released by the state budget office on Friday, as budget negotiations ramp up between Gov. Tim Walz and Republican leaders in the Legislature.
With 10 days left in the session, Republicans seized on the improved fiscal outlook, saying it shows that tax increases proposed by Gov. Tim Walz and Democrats in the Minnesota House are unnecessary.
“It’s very hard to look Minnesotans in the eye and tell them we need more revenue for the next budget,” state Sen. Paul Gazelka, the Republican majority leader, said in a statement released shortly after the new revenue figures were released.
Myron Frans, Walz’s commissioner of Minnesota Management and Budget and one of his closest advisers, cautioned against drawing conclusions. “We advise against making long-term policy decisions based on one month of receipts,” he said in a statement. April can be the most volatile month of tax receipts because it is tax filing season, he said.
Read more: http://www.startribune.com/state-government-pulls-in-nearly-500-million-more-than-expected-in-april/509774442/
