Almost two dozen states cut taxes last year, most in the belief that lower levies stimulate the economy. Not Minnesota, which raised them on high-wage earners, business sales taxes and cigarettes by $2.1 billion.
Minnesota Governor Mark Dayton agreed to a bond issue instead of higher taxes, and Republican legislative leaders endorsed higher spending in a deal to end a budget impasse that has closed state government for 15 days.
Minnesota’s government shut down for the first time since 2005, idling thousands of state workers, after Democratic Governor Mark Dayton and Republican legislative leaders failed to resolve a budget stalemate at the start of the new fiscal year.
President Barack Obama , on the final leg of a five-state campaign swing aimed at generating enthusiasm for embattled Democratic candidates, told Minnesota voters that his work for change depends on their turnout on election day.
The Minnesota Vikings and state and local government officials announced a legislative proposal to build a $975 million stadium for the National Football League team with taxpayers contributing about $736.7 million to construct and run the facility.
Medtronic Inc., the second-largest maker of medical devices, agreed to buy Covidien Plc for $42.9 billion in cash and stock as it transforms into a broader-based company bolstered by new tax advantages.