The Latest: Walz budget includes tax increases, tax cuts

ST. PAUL, Minn. (AP) — The Latest on Gov. Tim Walz's budget proposal Tuesday (all times local):

2:10 p.m.

Gov. Tim Walz has proposed a $49 billion budget that includes a 20-cent hike in the state's gasoline tax along with significant increases in spending on education and health care, while granting tax relief for many Minnesotans.

His proposal announced Tuesday includes a $523 million increase in state funding for local school districts, more aid to cities and counties, subsidies to cut premiums on the state health insurance exchange by 20 percent, and $70 million to ensure that all households in rural Minnesota have high-speed internet access.