Senate Majority Leader Cautious On Tax Cuts

Senate Majority Leader Cautious On Tax Cuts
(St.Paul, MN) -- The Democratic leader of the Minnesota Senate remains cautious about tax cuts, even though the latest forecast shows a one-point-two-billion-dollar budget surplus. Senate Majority Leader Tom Bakk emphasizes the new forecast doesn't show much change in future years beyond the current budget cycle. He says there's a little bit of new one-time money for this biennium that he hopes to be able to invest in increasing the state's budget reserve and using some cash to supplement the bonding bill. Meanwhile, House Democrats and Governor Mark Dayton have both proposed a package of middle-class tax cuts, plus repealing three controversial business-to-business sales taxes.