Senate Republicans rolled out some fancy charts saying if Senate DFLers raise $2 billion in income taxes that's a 12.6% rate--the highest in the country. They say 92% of businesses pay through the income taxes so this hurts jobs. Republicans say the DFL plan would create "an average tax increase of $14,000." Now Senate Minority Leader Dave Senjem admitted "we don't know what their plan is" but Sen. Geoff Michel added it "sends a dangerous signal the state is closing for business."
Senate Tax Chair Tom Bakk said his plan has been "misrepresented" by the governor and Republicans. He said he hasn't decided where an income tax will start, Bakk said he "might go lower than $65,000" and hit across the board for all incomes. But he is considering other taxes like online purchases and surcharge on credit card interest rates above 15%. Bakk said the Republicans were sitting in committee this week when he said he'd look at more than the income tax but "they're having fun, I just wish they'd have fun with the facts and not make things up." Bakk also shot down House Tax Chair Ann Lenczewski's huge tax overhaul saying this isn't the time to do that and "big reforms need to come from a governor." Funny, he's running for governor you know...
Bakk joins me live on Almanac: At the Capitol tonight with tax committee member Sen. Warren Limmer.