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Both the Minnesota House and Senate have passed legislation that would substantially increase taxes on Minnesota employers, severely damaging Minnesota’s global competitiveness, discouraging job creation, and in the long run undermining state general fund revenue growth and stability. The House Omnibus Budget Bill (HF 1812) would increase business taxes by $600 million over the next three years by:

Wiping out the foreign royalty deduction,
Eliminating the foreign operating corporation (FOC) structure,
Imposing additional taxes on companies operating in certain foreign markets deemed to be “tax havens” (Do you see a theme here?), and
Increasing the filing fees paid by mutual fund companies.

The Senate Omnibus Tax Bill (SF 2869) includes about $500 million in business tax increases over the next three years by:

Changing how the statewide property tax is calculated and removing cabins from the statewide property tax rolls,
Giving the Department of Revenue broad authority to second-guess the “economic substance” of business transactions - including charitable contributions - to determine whether they were made to reduce a tax burden,
Modifying but not eliminating the FOC language.

At a time when consumer confidence is falling, inflation is rising and job growth is lagging, these substantial tax increases would hurt Minnesota employers, their employees and the state.

Read joint Minnesota Business Partnership/Minnesota Chamber of Commerce letter opposing the House bill.
Read joint Minnesota Business Partnership/Minnesota Chamber of Commerce letter opposing the Senate bill.
Read the Council on State Taxation (COST) opposing the “anti-business tax proposals" in both bills.

Business Plan for Health Care Reform

Qwest Teachers and Technology Grant Program
Qwest and the Partnership have begun to present the 2008 Qwest Teachers and Technology Grants inidividually to public school teachers. A complete list of grant recipients and projects will be available after all grants have been presented. We received grant requests from more than 60 public school teachers across the state totalling over $350,000. A Blue Ribbon Panel of educators helped us select 15 proposals to receive grants this year.

		Business forum: Health care needs new treatment Health care reform is the right medicine	March 16, 2008 Star Tribune

		Schools use test data to improve Mankato school uses standardized test data to identify needs, make necessary adjustments - and improve student learning.	February 11, 2008 Mankato Free Press

		MN Chamber, Biz Partnership partner on health care reform "Business Plan for Health Care Reform" focuses on a market-driven, patient-centered approach to health care.	February 1, 2008 Minneapolis St. Paul Business Journal