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Legislative Leaders OK Ventura Tax Compromise

ST. PAUL, MN-The plan lowers taxes on apartment buildings an average of 21%, cut business taxes by 10%, farm taxes by 20% and cabin taxes by 12%. Democrats say they felt pressured to take the deal to avoid a government shutdown.

By Jim McCartney | Updated on May 30, 2001

ST. PAUL, MN-House and Senate leaders have accepted an overarching budget deal offered by Gov. Jesse Ventura — a deal that would mean about $900 million in tax relief. The budget would also include about $912 million in new spending on such things as education, transportation and nursing homes.

Ventura’s plan would reduce property taxes by cutting the average homeowner’s tax bill by 18.5%, apartment owners’ taxes by an average of 21%, businesses’ taxes by 10%, farm taxes by 20% and cabin taxes by 12%.

Ventura and Republican leaders were more enthusiastic about the proposal than Democratic leaders, who say they felt pressured to take the deal rather than risk a potential government shutdown due to a lack of abudget deal.

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