Tax Bill "Do-Over"

On Wednesday, a group of local residents held a rally at the Courthouse lawn in Albert Lea. The purpose of the rally was to request that Governor Pawlenty veto the then-current tax package that had been passed by the House and Senate.
http://www.albertleatribune.com/news/2009/may/07/rally-dont-cut-jobz/

Of major concern, was the ripping back of JOBZ tax benefits that had been promised to local employers. For example, Albert Lea Select Foods held up their end of the JOBZ bargain having now created over 400 jobs, having initially promised 50. The tax package would have ended most of the State-promised benefits mid-stream. Not only would this policy threaten existing jobs, but would also send a terrible message to other businesses looking to locate in the State. http://www.kimt.com/content/localnews/story/Businesses-Ask-for-State-Do-Over/MX8rDKaReUOkPngY73skAw.cspx

The tax package also contained a new 4th tier tax bracket and elminated commonly used tax deductions like mortgage interest, property taxes, charitable contributions, education and child care expenses.

Late last night, the House and Senate did re-do their tax bill. It was initially passed with actual blanks in the bill. http://www.startribune.com/politics/state/44534987.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU. It was later sent to Conference Committee and is now awaiting further action on the floor of the house and senate. Attached is the house research summary. http://www.house.leg.state.mn.us/hrd/bs/86/HF0885.html

Stay tuned.

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