Minnesota GOP Lawmakers Propose Cutting Business Tax
ST. PAUL (AP) — Republicans who lead the Minnesota Senate are calling for $200 million in business tax cuts and quicker approval of business permits.
The first Senate bill introduced Monday would cut the state corporate income tax in half over six years and reduce the business property tax to its 2009 level.
The proposal from Sen. Geoff Michel would also give state agencies a deadline for approving or denying business permits.
Michel says the legislation would boost employment by cutting costs for job creators and giving them more certainty when it comes to regulation.
Job creation is a top priority for Republicans who took over both chambers of the Legislature last week.
House Republicans are slated to outline two more bills focused on jobs and the budget at an afternoon news conference.
(Copyright 2011 by The Associated Press. All Rights Reserved.)