MPMA Board Of Directors Approves 2018 Legislative Priorities
Thursday, March 8, 2018
The Board of Directors of the Minnesota Precision Manufacturing Association (MPMA) has approved the following legislative priorities for 2018:
Strengthen Minnesota’s Manufacturing Economy
Following the tax reforms last December in Washington, D.C., Minnesota now has the opportunity to reform our state tax laws to maximize economic growth for Minnesota manufacturers.
The Minnesota Precision Manufacturing Association supports the following reforms to strengthen Minnesota’s economy:
- Reduction of income taxes for companies paying the top rate of taxes through the individual income tax “pass-through” system (i.e. S Corps, sole proprietorships, LLCs, and partnerships).
- Expansion of Research and Development tax credits to encourage innovation and investment in Minnesota businesses.
- Update Section 179 expensing to confirm with Federal tax law to create greater opportunities for property and equipment investments.
- Enact Uniform State Labor Standards legislation to support statewide uniformity in labor laws and minimum wage laws.
Strengthen Minnesota’s Skilled Workforce
Skilled workers are the backbone of the manufacturing industry. However, demographic shifts and low unemployment are contributing factors to a workforce supply shortage that is limiting manufacturers’ ability to keep up with current production demand and take advantage of new opportunities.
The Minnesota Precision Manufacturing Association supports the following reforms to strengthen Minnesota’s skilled manufacturing workforce:
- Build on the success of the new Youth Skills Training Program and expand grant capacity so more schools and business can create local partnerships to train high school students for manufacturing careers.
- Allow high schools greater access to manufacturing training equipment through public-private match programs.
- Expand dual-credit and industry-recognized credentials options for technical students.
- Align state workforce development funding to evidence-based, industry-developed strategies to close the skills gap and maximize workforce potential.