Minnesota Senate Media Services
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Jobs and Tax Cuts Bill
Posted
March 23, 2012
Views
57
March 23, 2012
57
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3:53Now PlayingOn a divided vote, the Senate Tax Committee approved its signature legislation for the 2012 session. The bill provides about $100 million dollar in tax cuts, including gradually phasing out the statewide business property tax and accepting a federal tax break for married couples. Under the plan, sponsored by Senate Tax Chair Julianne Ortman, R- Chanhassen, the office of Minnesota Management and Budget would need to identify about $100 million dollars in state budget reductions. Senator Ortman said the goal of the legislation is to provide long-term incentives to businesses to expand. Minnesota Management and Budget Commissioner James Schowalter said the bill moves in the wrong direction by jeopardizing the budget reserve. These clips are highlights of the debate during the March 21st and March 22nd hearings.
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