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Senate Approves FY2020 Budget

The Senate approved a fiscal year 2020 budget on Thursday, sending a $1.43 trillion spending bill to President Donald Trump and avoiding a government shutdown. The 2,300 page deal includes 13 appropriation bills.

Walz Releases Budget Proposal

Minnesota Governor Tim Walz’s first budget calls for a simplified tax code for farmers that will conform to the Section 179 expensing in federal law. The proposal also cuts taxes by $220 million for state farmers and small businesses. Walz is also seeking a 20 cent gas tax increase to fund road and bridges. A border-to-border broadband program is also included in the Walz proposal.

With the announcement and next week’s economic forecast for the state, the Minnesota Legislature will begin working on budget bills for the biennium.

(Source: Red River Farm Network)