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Article: Metro lawmaker's bill offers ways to pare deficit; Her plan would repeal most corporate tax breaks, yet cut their tax rate. But Pawlenty isn't keen on it.(NEWS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- March 20, 2008
- Author:
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Copyright informationCOPYRIGHT 2008 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: KEVIN DUCHSCHERE; STAFF WRITER
Rep. Ann Lenczewski rolled out a tough strategy Wednesday for helping close the state's nearly $1 billion projected budget deficit, bringing a bill before the House tax committee she chairs that would raise millions in revenue by repealing virtually all corporate tax breaks.
Under the bill from Lenczewski, DFL-Bloomington, that would mean no more state tax deductions for foreign operating corporations or foreign royalties, no more tax incentives for research and development work, and no more JOBZ -- the five-year-old program that uses tax-free zones to encourage business development and has been a favorite of Gov. Tim Pawlenty's. ...
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