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Thursday, March 20, 2008

New from the Minnesota Chamber of Commerce

The following was in my mail box today, it seems everywhere you turn people of intelligence are worried about what the dems are doing to us, and finally are beginning to call the culprit party by name..instead of the generalized "house" or generic statement about the government

We don’t need tax increases to balance the state budget, yet that’s the direction House and Senate DFLers are headed with their tax proposals unveiled this week.
HF 4103, which could become a key component of the House DFL tax bill, would reduce Minnesota’s corporate tax rate to 8.8 percent, but it also eliminates many existing tax credits and deductions such as foreign royalties and incentives for research and development. The net effect is a $170 million tax increase for businesses in FY 2009 and a $288 million tax increase in FY 2010-2011.
The Senate DFL bill would remove cabin owners from paying the statewide property tax and leave businesses to pay those dollars, thus increasing commercial and industrial property taxes by about $35 million a year. Business property taxes – without this shift – already are expected to increase 7 to 10 percent this year.
Remind your legislators that the state should be able to operate under existing general fund revenues. State spending still would increase 9 percent under the Governor’s plan to address the 2008-2009 shortfall.

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