Jobs and the Economy
Innovative and diverse Minnesota businesses are the backbone of the state’s economy. But past success does not guarantee future prosperity, and Minnesota’s tax code and business climate create burdens that may hinder long-term economic growth. Lawmakers should evaluate policy decisions with a global view and address
present-day challenges with solutions that will enhance Minnesota’s future competitiveness in the global economy.
Globalization, technological advances, demographic changes, and other forces are causing fundamental changes to the economy that make existing state spending trends unsustainable. In addition to unsustainable spending trends, Minnesota has an antiquated and burdensome tax structure that forces Minnesota-based
businesses to shoulder a heavy and growing load while they compete in a dynamic worldwide economy. Reforms are necessary to position the state for greater economic growth and reduce the effect of economic shocks on the state budget.
For more information, contact Fiscal Policy Director Gavin Hanson.