Despite surplus, Gov. Walz continues pushing tax hikes

Despite a $1.6 billion surplus projected over the next two years, DFL lawmakers and Governor Tim Walz continue to propose budgets that increase taxes for Minnesotans. After introducing his initial budget back in January, Walz was met with harsh criticism from Senate Republicans who say that small businesses and consumers alike have been hurt financially due to pandemic regulations. Since receiving staunch opposition from republicans, who have promised that a budget with an increase in taxes will be “dead upon arrival” once it reaches the Senate, he has backtracked on nearly $1 billion of the tax increases that he had initially proposed. 

Under the current new budget plan, many wealthy Minnesotans and corporations will see their taxes increase in order to pay for education and other progressive measures. Unfortunately, following a year of financial devastation, an increase in taxes could be the final nail in the coffin for many small businesses and corporations. There is also the possibility that Minnesota may experience a mass exodus from corporations after being targeted for tax revenue if they shelter their company’s profits abroad. Governor Walz and DFL lawmakers claim to have working families and employees’ interests at heart, but a loss in jobs and closed businesses will not help the economy to bounce back. 

We need a governor that understands Minnesota’s needs. Instead of incorporating a new fifth-tier income tax bracket, we should be encouraging consumers to support small businesses. Minnesota residents have had a hard enough year without introducing more taxes, which will ultimately fall on the working class.