Senate GOP leaders release plan to phase out business property taxes - Bring Me The News

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.
Author:
Publish date:

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.

Related

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.

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.

DFL jobs plan includes tax credits for businesses that hire the unemployed

Hiring workers off of Minnesota's unemployment rolls would earn businesses a $3,000 tax credit under a jobs plan unveiled by Governor Dayton and DFL lawmakers. Those hiring veterans or recent graduates would also get the credit. Dayton says the cost of the $35 million program could be met by closing tax loopholes.

Minnesota Senate passes GOP tax relief measures along party-lines

After two and a half hours of debate Friday, Republican Senators agreed to reduce and eventually eliminate the state’s property tax on businesses and give married couples an income tax break. The $100 million dollars in tax revenue would be covered with the state’s budget reserves. The House has passed companion legislation, but there are several differences. Gov. Mark Dayton does not support the proposal.

Property tax statements bring new round of political acrimony

DFL lawmakers say higher property tax bills appearing in mailboxes show that Republicans were not honest when they claimed to have balanced the state's budget without raising taxes. But the current political clamor over taxes is likely just a warm-up for next year, which happens to be an election year.

GOP Senators kill Obama's jobs bill

President Obama's jobs bill he says would have created 26,000 jobs in Minnesota -- was dead upon arrival in the U.S. Senate. Republicans voted to kill the $447 billion plan the president had spent weeks campaigning for across the country.

Next Up