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| Date: | January 10, 2011 | | Contact Name: | Susan Closmore | | Contact Phone: | 651-329-9923 | | Contact Email: | susan.closmore@senate.mn | | For Immediate Release | |
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| SEN. DAVE THOMPSON & SENATE MAJORITY UNVEIL JOBS BILL |
(ST. PAUL) -- In an effort to boost Minnesota’s business climate and stimulate private sector job growth, Senate Republican Leaders released their jobs initiative, which is Senate file number one. The bill contains three principal components: a phased-in, 50 percent reduction of the business income tax rate; a roll back and freeze on business property taxes, and regulatory relief.
Senator Dave Thompson (R-Lakeville) is serving his first term as an Assistant Majority Leader in the Minnesota State Senate. “High taxes and excessive regulation are weighing down Minnesota businesses and preventing job growth. The bill introduced today is focused on cutting taxes for job creators and making the permitting process more efficient. This will encourage expansion as well as establish a business-friendly environment for entrepreneurs, meaning more jobs and a healthier economy in our great state,” said Sen. Thompson. “I’m committed to getting Minnesotans back to work and this bill is a solid first step towards that goal.”
The Senate Republican Jobs Initiative offers significant tax relief through a variety of changes to Minnesota’s burdensome tax structure. Reducing the business income tax and the statewide property tax keeps more capital in the private sector and empowers employers to grow and develop.
Upon convening the 2011 Legislative Session last week the new Senate Republican majority immediately began holding formal committee hearings. The first committee to meet was the Committee on Jobs and Economic Growth.
Senator Thompson was elected to his first term in November 2010. Senator Thompson can be reached at: 651-296-5252 (office) or sen.dave.thompson@senate.mn.
