The extraordinary union power grab underway at the State Capitol is breathtaking, especially in light of the prevailing trend of Midwest states enacting positive, taxpayer-friendly collective bargaining reforms. The Minnesota power grab is perhaps best exemplified by, but unfortunately not limited to, the attempted unionization of independent childcare providers and personal care assistants (PCAs) that unions are ramming through the legislature. The proposal is the culmination of a years-long or...

Moody’s Investors Service is changing the way it assesses local government pension liabilities "to reflect the rating agency’s view that pension obligations are a significant source of credit pressure for governments and warrant a more conservative view of the potential size of the obligations." The new ratings rules could lead to downgrades for some cities, counties, and school districts. Moody’s has placed 29 local government ratings from across the country under review, a possible precursor t...

The Minnesota Senate will likely pass their tax bill today, which includes $1.8 billion in tax increases and derives the bulk of new revenue from raising the state’s top personal income tax rate by 20 percent and imposing a 94-cent per pack cigarette tax hike. Among the bill’s features: Increases the current top personal income tax rate by 20 percent (from 7.85 percent to 9.4 percent), with the rate kicking in at $79,730 taxable income for single filers and $140,960 for married joint filers Exte...