Walz Proposes Plan That Adds $1.3 Billion to Minnesota Debt

Governor Walz has recently introduced a new proposal that would add $1.3 billion to the already $12.4 billion Minnesota Debt.

Image Credit: Rep. Tim Walz

Governor Tim Walz has requested $1.3 billion dollars from the legislature in bonds, backed by Minnesota taxpayers, for this legislative session. 2018 is an even-numbered year which means the legislature is developing a budget. Walz’s request is out of the ordinary as bonding dollars are not usually requested in budget years.

Minnesota currently has a state debt of $12.4 billion, as found by the Minnesota Management and Budget in December of 2018. Walz’s request would add $1.3 billion to this, a whole 10% of the current debt.

Walz has also requested an additional $700,000 for personal staff, promised to increase gas taxes for Minnesotans, all within the first two months of his term, and requested to raise taxes in the metropolitical area to increase funding to the Metropolitan Council. The Met Council that Walz wants more funding for has a history of budgeting discrepancies.  

Walz’s request to add to the Minnesota debt is just one part of a bigger picture this legislative session. Minnesota is projecting a very large budget surplus for the next biennium, which shows that Minnesotans are overtaxed and deserve tax breaks. However, Minnesota Democrats including Governor Walz are adamant on raising taxes for the citizens of Minnesota.