The Minnesota Senate DFL’s tax bill is out this morning, a day after House DFLers introduced their plan.
The Senate skips most of the “reform” steps offered by the House but raises rates on highest earners — and everyone else. And like the House, there’s a web tax proposal.
Mary Lahammer of TPT, who’s always quick with the news on her blog, says:
“Lobbyists are again lined up by the dozens to see the details of a tax bill. This time it’s the Senate tax bill that included web sales tax and creates a new 4th income tax tier and adjusts all the brackets. The changes blink off in 2014. More details:
“The current rates are changed as follows: 5.35 percent to 6.00 percent, 7.05 percent to 7.70 percent, 7.85 percent to 8.50 percent. The income brackets are changed to reflect the inflation adjustment for 2009 as the new base year. The new fourth tier rate is 9.25 percent, and it begins at the following taxable net income levels: $250,000 for married individuals filing joint returns ($125,000 for married filing separately), $141,250 for unmarried individuals, and $212,500 for unmarried individuals qualifying as head of household.”
Republicans and Gov. Tim Pawlenty don’t like either proposal — because they raise taxes.