Governor Dayton Vetoes Tax Bill

By KBJR News 1

Governor Dayton Vetoes Tax Bill

May 4, 2012 Updated May 4, 2012 at 1:03 PM CDT

St. Paul, MN (Northland's NewsCenter) --- One of the three crucial bills that the Minnesota legislature has been trying to push through the capitol before May 21st was vetoed by the governor today, the same day it came to his desk.

Governor Mark Dayton vetoed the Omnibus Tax Bill that would have created tax relief for Minnesota businesses in the hopes that it would create more jobs.

Governor Dayton called this bill "fiscally irresponsible" and out of balance.

In his veto message, Governor Dayton said that this bill would reduce the Budget Reserve for the next two years and would cut $145 million from the next biennium budget which is already projected to be in a $1.1 billion deficit.

The Tax Bill, supported by Republican lawmakers, would have frozen the state property tax levy paid by business owners and seasonal/recreational property owners. Small businesses would also have been exempted from upfront sales tax on capitol equipment purchases.

Governor Dayton did say that he is willing to work with Republican lawmakers to come up with a tax relief bill for businesses that does not carry such a heavy financial burden. He said that there are provisions of the bill that he does agree with and others that he is willing to look at alternative options for, such as the planned expansion of the Mall of America.

According to Governor Dayton, his quick action on this bill proves that he is willing to work on a bi-partisan tax relief bill that will create jobs for the whole state.

Posted to the web by Krista Burns