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.
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.