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Dayton Downs 2nd GOP Tax Plan

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(credit: CBS)

(credit: CBS)

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ST. PAUL, Minn. (AP) — A second attempt by Minnesota Republicans to craft a tax-cut bill has met the same fate as the first.

Democratic Gov. Mark Dayton vetoed the legislation Monday, days after the Legislature left town for the year.

The governor says sponsors of the bill didn’t abide by his requirement that the cuts be paid for in future years and not add to a projected deficit. Dayton also took issue with the mix of tax breaks, saying businesses made out far better than homeowners.

In striking the bill down, Dayton had to sacrifice some of his own priorities. The bill contained a tax credit to encourage companies to hire unemployed veterans. It also would have boosted credits meant to spur investment in startup companies.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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