ST. PAUL – State Rep. Dennis Smith’s (R-Maple Grove) unemployment insurance tax legislation, HF1416 and HF2073, passed off of the House floor on Wednesday evening as a part of the Job Growth and Energy Affordability Policy and Finance committee omnibus bill. HF1416 reduces the unemployment insurance employer tax rate. HF2073 creates a 0.8% cap on the Workforce Development Fund (WDF) unemployment insurance tax.
“I’m proud to have passed over $600 million in tax cuts for our Minnesota business owners,” said Smith. “It’s time that we pass business-friendly, bipartisan legislation to protect the financial reserves of our large and small Minnesota businesses and allow them the opportunity to invest in their employees. Thank you to my colleagues for their support.”
The Job Growth and Energy Affordablity Policy and Finance omnibus bill passed 73-56.
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