Minnesota Budget Bites

While 2024 was not a budget-setting year for the state, policymakers made use of the limited resources they had to build on last year’s transformational investments and took steps to set the state up for a brighter future. This year, child care affordability and affordable health care accessibility continued to rise to the top as a priority for many Minnesotans. This blog takes a look at the policy and budget decisions made this year to make affordable health care and child care available to more Minnesotans.

The Minnesota Legislature passed some investments in Minnesota families’ economic well-being and improving their tax-filing experience in this year’s final tax legislation, including essential provisions for successful implementation of advance payments of the Child Tax Credit. Here’s a look at how our priorities for the tax bill fared this session.

A recent report asserts that many profitable U.S. companies pay a lower effective corporate income tax rate than the federal tax rate of 21 percent, mainly because of the loopholes that have been left in place or introduced in the 2017 Tax Cuts and Jobs Act. As components of the TCJA are due to expire in 2025, policymakers should reconsider whether profitable corporations are doing their part to fund crucial public services that everyday folks across the country value and count on.

In 2023, policymakers made transformational budget investments for the well-being of Minnesotans and their families....