Poston: Tax hike coming to businesses without House action
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The deadline for approving legislation that provides a fix to the state’s unemployment insurance (UI) trust fund balance is early next week, and it appears that the House Democrat majority will likely let the deadline pass. This means that thousands of businesses across Minnesota will be facing a significant tax hike—at a time when the state has a $9.3 billion budget surplus.
The Senate passed a bill that replenishes the fund over three weeks ago on a veto-proof vote of 55-11, while the House has held only one committee hearing and has done nothing for a full month.
There is no reason and no excuse to be raising taxes on businesses when government is sitting on a $9.3 billion surplus. If Minnesota businesses get hit with this massive tax increase, the responsibility for that failure lands squarely on House Democrats’ shoulders.
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