Skip to main content

Minnesota economy would suffer if U.S. goes over 'fiscal cliff'

Lawmakers are headed back to Washington to continue a pre-election session this week. Without a deal on taxes and spending, a number of tax hikes and spending cuts will automatically kick in Jan 1. And officials say that would be bad for the Minnesota economy, MPR reports.
  • Author:
  • Updated:
    Original:

Lawmakers are headed back to Washington to continue a pre-election session this week. Without a deal on taxes and spending, a number of tax hikes and spending cuts will automatically kick in Jan 1. And officials say that would be bad for the Minnesota economy, MPR reports.

Next Up

Screen Shot 2022-08-08 at 7.13.33 AM

Family identifies man killed by police in Otsego

The 21-year-old was reportedly experiencing 'mental health challenges' and allegedly had a knife when deputies opened fire.

88 S 11th St, Minneapolis, Minnesota - April 2022 (1)

Gun found on WCCO-TV rooftop after homicide in Minneapolis

It's the 56th death reported as a homicide in Minneapolis this year.

Screen Shot 2022-08-07 at 11.43.15 AM

Deputies fatally shoot man in Wright County

Police claim the man, who had allegedly been experiencing a mental health crisis, was armed with a knife.

Ambulance hospital emergency

17-year-old killed in northern Minnesota crash Saturday

The other drive involved in the crash, a 75-year-old man, sustained life-threatening injuries.

ATV

Alcohol a factor as driver rolls ATV into corn field, injuring 3

The crash occurred in Lake Lillian Saturday night.

Minneapolis police

Man dies after being found shot at Minneapolis' 38th and Chicago

Responders were called to the scene early Sunday morning.

Screen Shot 2022-08-07 at 6.34.12 AM

7 children arrested after 'disturbance' at Cabela's, escape in stolen vehicle

Employees called police saying the children were stealing goods from the store.

Screen Shot 2022-08-06 at 6.16.49 PM

Fire sparks evacuation from apartment building, man arrested for arson

Police and fire crews responded to the fire just before 9 a.m. Saturday.

Flickr - utility pole power line

Morning storms cause power outages, ensuing problems in Eagan

There have been reports of disabled traffic lights and issues at local businesses.

kim crockett facebook sos

GOP nominee questions if those with disabilities, non-English speakers should be able to vote

Crockett made the comments in a 2020 radio interview following a ruling from the Minnesota Supreme Court.

Pharmacy

Jury: MN pharmacist did not violate woman's rights by refusing her morning-after pill

Gender Justice, the advocacy group that brought about the lawsuit, says it will appeal the decision.

Related

Minnesota lawmakers squabble over looming 'fiscal cliff'

It's only July, but Minnesota lawmakers in Congress are fretting over January – and not because of winter. Some observers say the nation's federal budget is headed for a "fiscal cliff." Without congressional action, on Jan. 1 Bush-era tax cuts are set to expire and $109 billion in automatic federal spending cuts will be set in motion. A partisan rift has split the state's lawmakers as they debate what Congress ought to do about it.

More business owners see improvement in Minnesota economy

31 percent of Minnesota business owners and managers surveyed by the state chamber of commerce and a public relations firm see the state's economy improving. That's up from just 13 percent in last year's Business Barometer survey. As for what obstacles they face, high taxes was the most common concern followed by health care costs and finding qualified workers.