A Walzonomics Primer

A Walzonomics Primer

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Here’s how business executives and donors are evaluating Gov. Tim Walz of Minnesota, especially on taxes, labor unions, energy policy and more.

Gov. Tim Walz of Minnesota has supported a progressive tax policy in his home state, and has won the support of prominent union officials.Erin Schaff/The New York Times

It’s been nearly 24 hours since Kamala Harris announced Gov. Tim Walz of Minnesota as her running mate, catapulting him into the national spotlight.Unlike other candidates for the position, including Gov. Josh Shapiro of Pennsylvania and Senator Mark Kelly of Arizona, the Midwestern politician hasn’t been closely scrutinized — until now. Here’s where he stands on some key business issues.Taxes: Under Walz, Minnesota has adopted a “moderately progressive tax system,” according to the Institute on Taxation and Economic Policy.As governor, he approved lowering taxes for middle- and lower-income Minnesotans, including via rebates and a child tax credit. Those were funded by rises elsewhere, including a 1 percent surtax on capital gains, dividends and other investment income over $1 million a year, and higher taxes on multinationals’ overseas income.That suggests Walz would favor Democratic proposals to increase taxes on the wealthy to close loopholes in the estate tax. (What Harris supports is unclear.)Labor: Walz garnered endorsements from prominent union officials, including Shawn Fain of the United Automobile Workers and Sara Nelson of the Association of Flight Attendants-CWA. Supporters pointed to legislation he signed into law last year that included:

  • State-funded paid family and medical leave, which allows workers to take off up to 12 weeks a year to care for a newborn or a sick relative, up to 12 weeks to recover from their own illness, or a cap of 20 weeks for both
  • A ban on most noncompetes
  • A prohibition on companies requiring workers to attend anti-union briefings
  • Additional protections for workers in warehouses and nursing homes

One wrinkle: Walz vetoed a bill that would have set minimum wages for Uber and Lyft drivers, after Uber said it would drastically scale back in the state.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.

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