by Deb McMillan, VP, Public Policy
|Governor Dayton gives his final State of the State address on March 14, 2018|
Andrea Ferstan, TwinWest's Vice President of Talent and Workforce testified in favor of SF2434 last week, a bill that would modify the use of workforce development funds to provide greater flexibility on the use of those funds.
Governor Dayton gave his final State of the State address last week. He focused on the legacy he will leave behind and reminded the crowd of his priorities: additional education funding, expansion of health insurance coverage, and clean water initiatives.
Governor Dayton also released his supplemental funding bill last week that includes $226 million of new spending and undoes some previously agreed to tax provisions including elimination of the business property tax inflator and the tobacco tax inflator. His proposal holds the estate tax threshold at $2.4 million, which is scheduled to go to $3 million under current Minnesota law and is now $11 million at the federal level. The Governor's supplemental budget fails to provide most of the tax relief afforded business under the new federal tax law, missing an important opportunity to make Minnesota businesses more competitive. We will continue to work with legislators to encourage them to adopt federal tax provisions to make Minnesota businesses more competitive.
Legislators in both bodies must act on bills prior to the second deadline, March 30, to keep them in play for this session.
Click here for TwinWest's complete 2018 Business Agenda.