MINNEAPOLIS (WCCO) — Gov. Tim Walz and his entire cabinet will be taking a pay cut for the rest of the year during the COVID-19 pandemic.

On Monday during a daily briefing, Myron Frans, the Commissioner Minnesota Management and Budget, confirmed that Gov. Walz and his entire cabinet will be taking a 10% pay cut during the crisis.

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Frans also announced that his department will be releasing a new budget projection — based on the latest economic and budget indicators — in early May.

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“We know the virus is impacting our state’s economy, businesses small and large, and the lives of our families, friends, and neighbors,” Frans said. “We have put every resource into combating this virus and ensuring those fighting on the front lines have what they need to do so. Now we need to know the financial impact this is having on our state budget so we can plan appropriately and make modifications where necessary.”

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Walz will also be instituting a hiring freeze on all executive branch positions.