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Legislative News and Views - Rep. Jeanne Poppe (DFL)

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Rep. Poppe Votes to Create Good Jobs, Cut Taxes for Businesses

Thursday, May 16, 2013

ST. PAUL, MN – Late last night, the Minnesota House of Representatives approved a major conference committee bill that creates good jobs and cuts taxes for Minnesota businesses.

Rep. Jeanne Poppe (DFL—Austin) voted for the bill. It passed by a vote of 73-59. Pending a Senate vote, the bill is set to be signed into law by Governor Dayton.

The Omnibus Jobs, Commerce & Housing budget bill (HF 729/SF 1057) utilizes proven strategies such as low-interest business loans and job training programs to spur economic development and put Minnesotans back to work.

“Small businesses are the engine of our economy, and this jobs bill gives employers the tools and incentives they need to expand and hire more workers,” said Rep. Poppe. “Those kinds of steps are going to lead to greater economic security for all Minnesotans.”

The jobs bill provides $30 million for the Minnesota Investment Fund (MIF). Those resources allow MIF to provide financial incentives such as low-interest loans to out-of-state businesses thinking of setting up shop in Minnesota as well as in-state businesses thinking of expanding.

In addition, the bill provides $24 million for the Job Creation Fund (JCF), which also provides financial incentives for Minnesota businesses to create jobs. The JCF awards grants to businesses that make a commitment to hire additional employees or make large capital investments. The grants are not paid until businesses meet capital investment and job creation goals.

The jobs bill also includes a massive tax cut for Minnesota businesses. It saves employers a total of $346 million, or $150 per employee for the average business, by reducing the rate paid on unemployment insurance taxes.

Another component of the bill allocates $4.6 million for the Minnesota Trade Office. Those resources help Minnesota businesses build relationships overseas so they can increase exports to foreign markets.

In addition, the bill provides $3 million for FastTRAC, an education and training program designed to help Minnesotans obtain post-secondary credentials so they can work in high demand occupations. The partners that would establish a local education and training program include: 1) MnSCU institutions, 2) employers, 3) the Adult Basic Education program within the Department of Education, and 4) the local workforce development programs. The amount of funding substantially increases the number of participants.

Rep. Poppe encourages her constituents to contact her with any questions, comments, or concerns. She can be reached by phone at (651) 296-4193, by email at rep.jeanne.poppe@house.mn, or by postal mail at 487 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.