ST. PAUL– Keith Downey (R – Edina) announced several efforts to improve Minnesota’s business climate and economy.  

Downey announced that he will be the chief author for Governor Pawlenty’s Tax bill in the House, which provides powerful tools to the free market and to job providers working to expand and grow.  “This session, as we look to Minnesota's economy to get back on track, it will be critical to undertake the reforms that will empower our job providers in the 21st century economy,” said Downey.  The Tax Bill includes:

*   20% reduction in the corporate income tax rate
*   20% tax reduction for small businesses
*   80% tax credit for companies investing in small business
*   $10 million in angel investor incentives
*   Capital gains exclusion for investments in Minnesota small businesses
*   5% tax credit for research and development