Tim Walz ranks dead last among governors for fiscal restraint

Published On Oct 15, 2024, 1:35 PM

A recent study by the Cato Institute has ranked Minnesota Governor Tim Walz last among U.S. governors for fiscal restraint, primarily due to significant tax increases and spending policies during his time in office. Minnesota's budget has seen a substantial increase, with a 36% rise in the general fund budget from the 2022–2023 to the 2024–2025 biennium. Critics argue that Governor Walz's tax hikes are excessive, especially as the state has a budget surplus, and this has contributed to an exodus of residents and businesses to lower-tax states.

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With rising tensions regarding fiscal management in Minnesota potentially leading to increased scrutiny and opposition, particularly from businesses and taxpayers, investors should be wary of stocks and funds tied to the state or those heavily impacted by tax policies. Companies that may be affected include those in high taxation sectors or those with large operations in Minnesota. The net effect could lead to broader market volatility, negatively impacting related sectors.

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