ST. PAUL, MN (KDAL) - Minnesota Governor Mark Dayton released his budget proposal that features some tax reforms and increased spending on higher education. The budget offers 1.4 billion dollars in direct property tax relief through a 500 dollar rebate for homeowners and a reduction in the state sales tax rate. The budget would also cuts the corporate tax rate but would eliminate some corporate tax loopholes. It also asks for the wealthiest 2 percent of Minnesotans to pay higher income taxes. The budget also includes 5.1 billion dollars in cost savings and reductions over four years. Dayton says his budget closes the billion dollar deficit and puts an end to fiscal gimmicks, payment delays and other financial manipulations that were used to balance the budget over the last ten years.