|
Tim Pawlenty on Corporations
Republican MN Governor
|
|
|
20% corporate tax cut; 20% business exclusion
In 2010, in his final State of the State address, Pawlenty outlined his plans for growing "good, private-sector jobs" in the state:- 20% cut in the corporate tax rate
- 20% exclusion from taxes for small businesses
- Capital gains tax exclusion
for qualified investments
- Tax credits for investors in startup companies
- R&D tax credits
- Incentives for investment in Minnesota small businesses.
Pawlenty defended the tax cuts as "a spit in the ocean compared to what should be done."
Source: Sam's Club Republican, by J.A. McClure, p. 50
, May 10, 2010
Reduce business tax from 3rd highest corporate tax rate
Minnesota's business tax climate is the 8th worst in the nation. That means 42 other states have a competitive edge on Minnesota.We have the 3rd highest corporate tax rate in the developed world. Our personal income and sales tax rates are among the
highest in the country, and Minnesota offers no preferential rate for capital gains. We need to face the facts: Minnesota's tax system is costing us jobs, and our tax code needs to change to meet the challenges and opportunities of our time.
Source: Minnesota 2010 State of the State Address
, Feb 11, 2010
2009: Automakers should have gone bankrupt 6 months earlier
I was pitted against Governor Tim Pawlenty of Minnesota on a Fox News program [where I proclaimed that] the restructuring plans for GM and Chrysler would at least prevent bankruptcy, the worst possible outcome for the carmakers and our state.
Pawlenty dismissed the degree of "restructuring" that was in the auto companies' plans."You probably haven't read those plans,"
I asserted. "Governor Pawlenty, have you read the report that the carmakers have just submitted? I bet you haven't." Pawlenty admitted he hadn't read the plans.
He [asserted] that the automakers should have gone into bankruptcy six months sooner. "They should do it now," he concluded.
I responded by strongly reasserting the importance of the auto industry to the American economy.
Source: A Governor's Story, by Jennifer Granholm, p.175-176
, Oct 1, 2005
Page last updated: Jun 30, 2018