big tobacco helped seal minn budget deal
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Big Tobacco helped seal Minn. budget deal

Arab Today, arab today

Arab Today, arab today Big Tobacco helped seal Minn. budget deal

St. Paul - UPI

The deal to end Minnesota's government shutdown includes high-interest borrowing of $700 million against future payments from tobacco companies, officials said. The $35.5 billion two-year budget deal, expected to be voted on Monday or Tuesday, also includes delaying making $700 million in payments to primary and secondary public schools, but then owing a record $2.1 billion to the schools with no method laid out yet for paying that money back, the Star Tribune of Minneapolis reported. Gov. Mark Dayton and Republican lawmakers reached the tentative deal late Thursday after Dayton, of Minnesota's Democratic-Farmer-Labor Party, said he would "agree to something I do not agree with" -- a budget plan Republicans proposed June 30 to help close a projected $5 billion shortfall over two years. In an open letter to state House and Senate leaders, Dayton said voters "strongly prefer my proposed solution to that of the Republican legislature." But he said, "more than anything, they want this government shutdown to end. Now." The sides met for about 3 hours and announced the deal framework. In announcing the tentative deal, Dayton said he gave up his push to raise income taxes on residents earning more than $1 million a year. Republicans, who took control this year of both chambers in St. Paul for the first time in almost four decades, said they agreed to drop their plan to cut the state workforce 15 percent. They also agreed to a $500 million bonding proposal that is intended to kick-start private-sector jobs but adds to the state's mounting debt. And they agreed to eliminate controversial social policies from spending bills. "This is an agreement that is difficult for both sides," Republican Senate Majority Leader Amy Koch said in a news conference. "No one is going to be happy with this," Dayton said. The agreement makes Minnesota the latest state to address its budget woes without raising taxes. The expected future payments from the tobacco industry result from the tobacco Master Settlement Agreement, worked out in 1998 among the four largest U.S. tobacco companies and the attorneys general of 46 states. The agreement said in part that states would drop lawsuits against the tobacco companies to get Medicaid reimbursements for tobacco-related healthcare costs. In return, the agreement said the tobacco companies would pay more than $8 billion a year to the states every year adding up to at least $206 billion over the first 25 years of the deal but continuing in perpetuity to compensate them for smoking-related medical costs.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

big tobacco helped seal minn budget deal big tobacco helped seal minn budget deal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

big tobacco helped seal minn budget deal big tobacco helped seal minn budget deal

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday