Good morning, and welcome to another Monday.
Gov. Tim Walz made a quiet trip to Kuwait last week to visit members of the Minnesota National Guard’s 347th Regional Support Group and members of the RSG’s 147th Human Resources Company who are deployed there. Walz kept the trip a secret until Sunday when his office released a statement. “It was my honor to spend time with the service members serving our country in Kuwait,” Walz said in the statement. “While many Minnesotans will gather with family and friends this holiday season, there are many others who have chosen to sacrifice time with their loved ones to protect us.” Walz is expected to release more details of the trip later today.
After a two-year hiatus on construction borrowing, DFL leaders at the Minnesota Capitol said they’re determined to get a capital investment bill – or even two – across the finish line this year. With a hold on all three levers of power at the Capitol and a whopping $17.6 billion projected budget surplus, Democrats will have a broader range of opportunities to chart new tax and spending bills. And they’ll also have more options when it comes to writing and passing a capital investment bill in 2023. Before the next Legislature takes office next month, MPR’s Dana Ferguson has all you need to know about bonding bills and the debate ahead.
High inflation has led state and federal authorities to make more dramatic alterations than usual to income tax brackets for the coming year,reports MPR’s Brian Bakst. Both the U.S. and Minnesota tax agencies have pushed up the floor for the brackets that determine the rate at which wages and other personal earnings get taxed. In response to the highest inflation in decades, the bracket adjustments are large – more than 7 percent compared with bumps of 1 percent to 3 percent in recent years. “It's the highest adjustment we've made since probably the early 80s,” said Eric Willette, research director at the Minnesota Department of Revenue. The annual exercise typically doesn’t get much notice, other than from tax professionals. But the size makes this one different because not going to this extent could have meant a sting for filers later.
While some might be getting a break on income taxes, it’s a different story for property taxes.The Star Tribune reports: Twin Cities residents say they're making tough choices this year to afford their rising tax bills, from canceling trips and dinners out to working second and third jobs. The St. Paul City Council on Wednesday approved a nearly 15 percent property tax levy hike, the day after Minneapolis leaders signed off on a 6.5 percent increase. Suburban communities, too, are feeling the pain as local governments raise taxes to pay for everything from new buildings to office supplies. Taxes levied by cities, counties and school districts make up property tax bills. Many local governments that held off on increases during the dark days of the COVID-19 pandemic are now being forced to make up for lost time. Local leaders say inflation and rising labor costs are compounding — and, in some cases, federal COVID aid is drying up — resulting in higher levies. The levy is the total amount a local government collects in property taxes, not the amount that individual property owners pay.
MinnPost reports18 candidates are in the running for four seats on the University of Minnesota’s Board of Regents: Among those who will be interviewed by members of the Regent Candidate Advisory Council next month are incumbent members Kendall Powell and Tadd Johnson, former member Michael Hsu, and former U.S. Rep. Bill Luther. Also moving forward is Minnesota Nurses Association president Mary Turner, U of M law professor and former U.S. Senate candidate Richard Painter, and former U of M men’s gymnastics coach Mike Burns. “We’ve got a good group, 18 to interview, and there are good candidates in there,” said Sen. Greg Clausen, DFL-Apple Valley, who is chair of the panel. After interviewing candidates the week of Jan. 9, the panel will vote to send two-to-four names for each of the four openings. The Legislature, however, can disregard the recommendations and can even nominate people who did not go through the candidate selection process.
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