Posts Tagged ‘2013 tax act’

Minnesota Taxes Much Less Regressive

Minnesota’s state and local tax system remains regressive, with lower- and middle-income households generally paying a larger percentage of their income in state and local taxes than higher-income households, although the degree of tax regressivity is modest and significantly reduced relative to what is was two years earlier. The decline in tax regressivity is primarily…

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Minnesota GDP Growth Above Average Since 2013 Tax Act

Minnesota conservatives have complained loudly and repeatedly that tax increases in general—and the tax increases enacted in 2013 in particular—will ruin the state’s economy, as businesses flee in response to an “uncompetitive” business environment. However, a recent review of Gross Domestic Product (GDP) compiled by the U.S. Bureau of Economic Analysis (BEA) shows that economic…

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