State Republicans willing to trade taxes for jobs
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A group of Republicans in the Minnesota House say they want to eliminate the corporate income tax for five years for any businesses that creat jobs in Minnesota.
Republican Representative Kurt Zellars said he wants a five year tax holiday from the state's corporate income tax for businesses that relocate to Minnesota or expand operations in the state.
He said the move will help improve the state's job climate.
"If we have to give away a little bit of something for a couple of years to get a lot for the next 25 to 30 years, I think that's a small price to pay just for the very beginning," Zellars said.
The announcement comes on the same day that state figures show Minnesota's unemployment rate has increased to 6.9 percent. Nearly 12 thousand Minnesotans lost their jobs in December. Zellars, of Maple Grove, said the plan would complement Governor Pawlenty's proposal to cut the state's corporate income tax in half over the next six years.
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