Budget Deficit

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St. Paul Seeks To Close Huge Projected Deficit

The city of Saint Paul is trying close a projected $10-million deficit. Mayor Chris Coleman said Tuesday the solution is a property tax increase and changes at parking meters. Coleman called for a 1.9-percent tax levy as part of his 2016 budget proposal.


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Dayton Makes No Promises About Tax Plan Changes

Gov. Mark Dayton says Minnesota taxpayers will benefit from a smaller-than-expected budget deficit, but don’t expect drastic changes to his tax plan.


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Good Question: Would Raising Taxes On Wealthy Put Dent In Nat’l Debt?

As negotiations continue in Washington, D.C. to avoid falling off the so-called “fiscal cliff,” many are left with a simple question: can taxing the rich raise enough money to make a dent in the national debt?


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Dayton Gives Himself ‘A’ In First Year As Governor

One year after winning a bruising election recount, and 11 months into his first term, Minnesota Gov. Mark Dayton said Friday he is running for re-election.


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Minn. House Democrats Urge No More Tobacco Bonds

The expectation of another Minnesota budget deficit has legislators girding for another difficult debate.


Jill Schlesinger

Wall Street Week Preview With Jill Schlesinger

CBS Moneywatch Editor at Large Jill Schlesinger joined Dave Lee to preview a busy week on Wall Street.


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Lawmakers Convene To Vote On Ending Gov’t Shutdown

An end to Minnesota’s nearly three-week-long state government shutdown came into view Tuesday, when Gov. Mark Dayton called the Legislature into a special session to vote on a budget deal.


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‘Cone Of Silence’ Becomes Roar Of Hostility

With Minnesota’s state government closed for business, the focus shifted Friday to who’s to blame.


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Minn. Braces For Gov’t Shutdown Over Taxes

Minnesota hurtled toward a midnight government shutdown Thursday in a dispute over taxes and spending that could force thousands of layoffs, bring road projects to a standstill and close state parks just ahead of the Fourth of July weekend.


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Rep. Cravaack Takes Questions At Town Hall Meeting

U.S. Rep. Chip Cravaack will field questions from the public — likely concerning Medicare and the budget deficit — at a town hall meeting in Cambridge Wednesday night.


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Dayton Expects Minn. Budget Talks To Pick Up Speed

Gov. Mark Dayton says he expects budget talks with top Republican lawmakers to pick up in the coming days.


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No Sign Of Breakthrough As Minn. Faces $5B Deficit

Top legislative Republicans and Democratic Gov. Mark Dayton remain divided on how to fix a $5 billion deficit as the legislative session enters its final four weeks.


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Sparks Fly In Dallas TV Interview With Obama

A Dallas TV reporter’s challenging interview with President Obama has been drawing attention nationally.


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Dayton To Sign Budget Bill For Minn. Farm Programs

Gov. Mark Dayton has signed the least disputed budget bill passed by the Republican-controlled Legislature.


Rep. Michele Bachmann (credit: Darren McCollester/Getty Images)

House Republicans Vehemently Opposing Tax Hikes

Leading congressional Republicans renewed their vehement opposition to tax increases Wednesday, as President Barack Obama prepared to put forth his new prescription to combat slow growth and national indebtedness.


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Budget Bills Take Center Stage At Minn. Capitol

The Minnesota House of Representatives voted Monday to cut state income and property taxes on businesses while slashing aid to several large cities, fulfilling key Republican priorities and setting the table for a conflict with Democratic Gov. Mark Dayton.


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Minn. Lawmakers Face Self-Imposed Budget Deadline

Minnesota legislators are arriving at a self-imposed budget deadline.


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Is The GOP Moving Too Quickly To Cut Spending?

Minnesota lawmakers are moving quickly to cut the state’s record budget deficits. Too quickly, some say.


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Dayton Casts GOP Tax Cuts As Giveaway To Rich

A proposal from Minnesota Republicans for a series of income tax cuts drew a rebuke Monday from Democratic Gov. Mark Dayton, who cast it as a giveaway for those with the biggest salaries.


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Minn. Deficit Shrinks; Dayton Drops Income Surtax

Gov. Mark Dayton is withdrawing his call for a 3 percent surtax on top incomes and reducing proposed cuts to nursing homes in light of a smaller Minnesota deficit.


Gov. Mark Dayton (credit: Office of Gov. Mark Dayton)

A Fee Here, A Fee There In Dayton’s Budget

While Gov. Mark Dayton’s plan for giant income tax hike made the biggest budget splash, a closer examination of his proposal reveals a smattering of fee increases on consumers and industry professionals far more likely to be enacted.


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Reality Check: Gov. Dayton’s $4.1B In Tax Hikes

Gov. Mark Dayton appealed to Minnesota’s richest citizens Tuesday to spare the poor and bear the brunt of a $6.2 billion budget deficit.


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Gov. Dayton Wants To Tax Wealthy To Fix MN’s Deficit

About half of Gov. Mark Dayton’s plan to fix the state’s budget deficit comes from higher income taxes on the wealthy, a plan he described Tuesday as one that would “keep my promises I made to the people of Minnesota last fall.”


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AP Source: Dayton Budget Avoids Cutting Local Aid

Minnesota Gov. Mark Dayton will ask lawmakers to spare city and county governments from state payment cuts in hopes of avoiding property tax increases, a Capitol official familiar with the decision told The Associated Press on Monday.


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How Will Gov. Dayton Solve Minnesota’s $6.2B Deficit?

Gov. Mark Dayton will unveil his $6.2 billion budget solution Tuesday, and the DFL governor is already running into resistance from Republicans, who control Minnesota’s House and Senate.