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State Representative Kathy Lohmer
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-4244
For more information contact: House GOP Communications 651-296-5520
HOUSE BRIEFS
E-Mail Update: Tax Relief and Job Creation Act
Dear Neighbors,
The House yesterday passed our monumental Tax Relief and Job Creation Act. Now that last year’s $5.1 billion deficit is behind us, unemployment is on the decline, and the economy is on the upswing, we want to reinvigorate job growth and economic stability.
The bill is quite comprehensive, but here are some highlights:
Property and Sales Tax Relief
The bill relieves small and medium-sized businesses from regressive and duplicative taxation by freezing the current rate for the statewide business property tax. We’ve also provided an upfront sales tax exemption on capital equipment purchases for all small businesses with fewer than 80 employees. In addition, homeowners whose property taxes increased by more than 12 percent will be eligible for significant tax relief.
Investment in Innovation and Small Businesses
Our bill will establish Minnesota as an R&D and medical device industry magnet, which provide high-paying jobs. We’ve also enhanced the Angel Investor Credit, allowing people to invest in Minnesota business.
Job Training and Hiring Incentives
We have created incentives, such as tax credits and grant programs, for businesses to hire unemployed veterans and establish a well-trained workforce in Greater Minnesota.
A great deal of thought and effort was put into this bill. Over the summer months last year, fellow Republican legislators and I travelled the state, visiting openly with small business owners, taxpayers, and government workers.
The theme of these discussions remained the same: relieve us of burdensome taxation, get government out of the way, and make it easier to start, own, and run a business in Minnesota.
The strain that red tape, bureaucracy, and taxation place on our businesses is not just anecdotal – it’s quantifiable. The Tax Foundation has ranked Minnesota as having one of the worst business tax climates in the nation. No wonder businesses are heading to border states or simply won’t build here!
We are hopeful that Governor Dayton will sign the bill and put away his veto pen. Contact the governor’s office at 651-201-3400 if you would like a better business climate in Minnesota!
It is a pleasure and a privilege to serve as your state representative. Please feel free to contact me at any time. My door is always open to the priorities of our area.
Keeping my commitment to you,
Kathy
*To receive regular email updates from Representative Lohmer, sign-up at www.house.mn/56A
News Items
- Legislative Update (May 24, 2013) - (Posted: May 24 2013 6:53PM)
- Legislative Update (May 17, 2013) - (Posted: May 17 2013 3:13PM)
- Legislative Update (May 10, 2013) - (Posted: May 10 2013 1:50PM)
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