Senate plan to hit more than top 2 percent - KXLT - Fox 47 Rochester MN News, Weather, Sports #rochmn

Senate plan to hit more than top 2 percent

MINNEAPOLIS (FOX 47) -- Senate Majority Leader Tom Bakk says the Senate's tax plan will likely hit more than 2 percent of the state's top earners with an income tax increase.

Bakk says that rate increase will be lower than Gov. Mark Dayton's proposal of 9.85 percent, but broadened to more taxpayers. He says it won't raise alcohol taxes.

Bakk previewed the Senate plan Monday at a University of Minnesota forum with House Speaker Paul Thissen. The full Senate plan is to be unveiled Tuesday.

The House plan calls for such an increase on those making more than $400,000 a year, plus a 4 percent surcharge for two years on incomes over $500,000.

Bakk says some income tax increase on top earners and a cigarette tax hike will likely become law this year.

Powered by WorldNow



Main Station: 507-252-4747
6301 Bandel Road NW
Rochester, MN 55901

Newsroom: 507-281-4747
Tollfree: 1-877-FOX47TV

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KXLT. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Jodi Neyens at (507) 280-5104. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at