CBSN

Minn.'s Dayton Wants To Tax Wealthy To Fix Deficit

ST. PAUL, Minn. (AP) - Minnesota Gov. Mark Dayton is looking to the wealthy to erase about half the state's $6.2 billion deficit.

The Democrat proposed new top income taxes Tuesday that would give Minnesota the nation's highest income tax rate.

Dayton's plan would raise almost $3 billion through a new 10.95 percent income tax rate, 3 percent temporary income surtax and property tax on million-dollar homes.

The taxes are part of a two-year, $37 billion budget proposal that includes cuts for state-subsidized health care and nursing homes and more money for schools.

Republicans who control the Legislature say the taxes have no chance of passing. House Speaker Kurt Zellers calls the plan "feeble" and "pathetic."

Leaders of the Democratic legislative minorities are praising Dayton's approach but won't commit to voting for the tax increases.