GOP lawmakers looking to slash business property taxes - Bring Me The News

GOP lawmakers looking to slash business property taxes

The proposal would cut taxes by about 30 percent over the next six to 12 years. The House Taxes Committee Chairman Greg Davids told the Pioneer Press it would be the "bigger job creator." DFL Gov. Mark Dayton hasn't ruled out the Republican plan, but doesn't know how they plan to pay for the tax cut.
Author:
Publish date:

The proposal would cut taxes by about 30 percent over the next six to 12 years. The House Taxes Committee Chairman Greg Davids told the Pioneer Press it would be the "bigger job creator." DFL Gov. Mark Dayton hasn't ruled out the Republican plan, but doesn't know how they plan to pay for the tax cut.

Next Up

Related

Senate GOP leaders release plan to phase out business property taxes

Republican leaders say the change would save Minnesota businesses $50 million the first year. That amount may well be added to the state budget deficit. The Senate GOP says the job creation would be worth it. DFL critics say there's no assurance that companies would used the money they save to create jobs.

ND voters embrace their property taxes

Voters in North Dakoka -- flush with oil boom money and enjoying the lowest unemployment in the nation -- had the chance Tuesday to become the first state to cast off property taxes. But in the end, voters decided to keep the $800 million a year the taxes raise.

GOP House passes bill to cut business taxes, reduce renter refunds

Republicans say the plan would help attract businesses and create jobs, but Democrats say it would boost business profits on the backs of the poor and middle class. Senate Republicans have introduced their own version of the bill, but their plan does not include cuts to renters' refunds.