Gov. Tim Walz has clashed with business leaders in Minnesota over tax policy. His outlook could help shape Vice President Kamala Harris’ economic…
Vice President Kamala Harris' running mate Minnesota Gov. Tim Walz has a tense relationship with some of his state's business interests
For Geoff Baker,"it was a bit of an 'oh s---' moment," he recalled to CNBC, confirming Gibson's account."That's not what I wanted to hear," said Baker, president of McFarland Truck Lines.Walz's approach to corporate and other business related taxes hasn't changed noticeably since that meeting on Gull Lake.
As Harris prepares to release her first economic policy plans later this week, investors and business owners will be watching closely to see whether Walz's approach to the tax code is reflected in the priorities of a potential Harris administration.One of the biggest recent battles between Walz and business in the state was over a new payroll tax to fund universal paid family and medical leave for Minnesotans.into law in 2023 and goes into effect in 2026, requires a 0.
Though Walz did hear them out, the governor ended up signing the bill anyway and the state continues to be the top taxed state for corporate income.For another perspective on Walz and taxes, the Harris campaign referred CNBC to Bill George, a Minnesota businessman and the former CEO of Medtronic.One example he recalled was a recent bill that would have mandated minimum wage in Minnesota.
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