Gov. Walz & Lt. Gov. Flanagan’s $66 Billion Two-Year Budget Proposal
Gov. Tim Walz and Lt. Gov. Peggy Flanagan chat as they make their way into a press briefing to present their $66 billion proposed state budget for the next two fiscal years. This is the first time the pair have appeared in public together after reports of a rift surfacing after the election last November.
Governor Tim Walz presents his $66 billion proposed state budget during a press briefing. Lieutenant Governor Peggy Flanagan; Minnesota Management and Budget Commissioner Erin Campbell; Minnesota State Budget Director Ahna Minge and Minnesota Department of Revenue Commissioner Paul Marquart joined Gov. Walz for the briefing.
Gov. Tim Walz said “ This budget is responsible, measured, and honest, and it starts with one good goal: fiscal responsibility”. Gov. Walz told the press briefing this is the first time in states history a budget will have a general sales tax decrease while expanding the sales tax to legal, accounting, brokerage and trust services and some bank service charges.
Lt. Gov. Peggy Flanagan discusses the budget proposal saying, “We are providing Minnesota with a strong economy and stability for years to come building on investments in childeren and families.”
Revenue Commissioner Paul Marquart told the press briefing this budget includes smart tax policy and will broaden the base while improving Minnesota’s tax system to reflect a more service oriented economy, stable revenue and increase fairness for consumers and businesses. Gov. Walz proposed $66 billion budget if passed by the legislature would leave a $2.1 billion surplus for 2026-27 and $355 million surplus for 2028-29 fiscal years.
