Twenty million dollars would be set aside for an Angel Tax Credit for early-stage businesses to provide a tax credit for investors or investment funds aimed at small businesses in greater Minnesota and BIPOC, women or veteran-owned businesses. Small businesses, hit hard during the COVID-19 pandemic shutdowns, would get $18.5 million for the Small Business Navigation Program, Small Business Development Centers, and the Small Business Partnerships Program over the next two years. It also recommends joining into a union contract with SEIU Healthcare of Minnesota and Iowa for a rate increase extended to 20,000 homecare workers, addressing teacher shortages and free college applications for qualifying students. The budget also offers money to address issues within the healthcare industry, like expanded training, mental health, and recruitment. Thirty million dollars would go toward the Drive 5 Workforce Fund over the next two years for money to help people get into five high-growth job categories of technology, caring professions such as nursing, social work or teaching, education, manufacturing, and trades. It would also expand unemployment benefits to hourly workers at K-12 schools who may need to apply for unemployment in the summer. The package creates a Paid Family and Medical Leave program for workers who need to take time off to care for a new baby or a family member with a serious illness, earned sick and “safe time” for workers to accrue up to 48 hours a year for when they need to recover from an illness, go to a medical appointment, care for a child during a school closure, or get care and assistance due to domestic abuse, stalking, or sexual assault. (KNSI) - Minnesota Governor Tim Walz Thursday unveiled his proposed two-year, $4.1 billion economic budget.
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