MNCPA member benefits are tangible and intangible
Advocacy
Nick Fitzgerald, CPA, MBT, CGMA, CliftonLarsonAllen | November 2020 Footnote
Editor's note: Updated October 30, 2020
As MNCPA members, we have access to the many benefits through the society, including networking opportunities, continuing education and advocacy for the profession, our businesses and our clients.
Some of these benefits, such as continuing education, are tangible. You see them every day because it affects your CPA license. Advocacy is one of the benefits you may not know as much about. This benefit does have tangible components, but its intangible benefits are equally important.
I have been involved in MNCPA advocacy efforts for more than 12 years and have seen, firsthand, the benefits we receive as CPAs. If you subscribe to the Legislative Digest email updates, you’ve seen regular updates about MNCPA advocacy efforts and the many important issues affecting the profession. If you have attended the annual CPA Day at the Capitol, you have seen the high regard legislators hold for CPAs, and the importance of being present and involved in those conversations. If you have attended a congressional breakfast or virtual townhall meeting, you’ve had the opportunity to engage your federal elected officials. The MNCPA continues to seek opportunities to engage policymakers and influence the decisions they make.
Broader reach
Legislators and Gov. Tim Walz are the top policymakers who come to mind when you think of state government. CPAs are equally affected by administrative agencies, and it’s important for the MNCPA to have working partnerships with these agencies. The Minnesota Board of Accountancy regulates the CPA license, and the Minnesota Department of Revenue recommends and interprets tax policy affecting CPAs, the businesses you work for and the clients you represent.
Most of the 2020 legislative session and special sessions have focused on the state’s response to the COVID-19 pandemic. One of the emerging issues on the horizon is our state’s projected budget deficit that is projected to be more than $2 billion this year and $4.7 billion in the next two-year budget cycle. A budget deficit means legislators may look for new sources of revenue. One of those potential sources of revenue is taxing professional services. Such a tax could generate approximately $4.5 billion and provide much of the needed revenue to make up for the $4.7 billion deficit. The MNCPA has consistently advocated against a tax on accounting services and has been successful because of the strong relationships that have been built over the years, in part, by the efforts of the MNCPA Political Action Committee (PAC).
MNCPA PAC
You may not be aware of the benefits you receive from the MNCPA PAC. The PAC is funded solely by individual MNCPA member contributions and it supports legislators and candidates, regardless of political party, for state office who support the profession and its issues.
I have attended many networking events and meetings with legislators, and I have seen the importance of developing relationships with supporters of the profession. Relationships are strengthened by the PAC providing an opportunity for the MNCPA to be present.
I believe we should all know who our legislators are and meet with them at least once a year, so they understand what’s important to you personally and professionally. You may not have the time or interest to attend meetings with elected officials, but you can still help with the profession’s unified messaging and position on issues. Your support of the MNCPA PAC is a great opportunity for you to help the MNCPA and the profession.
All members of the MNCPA benefit from the relationships the PAC has helped develop and strengthen. Your individual contribution to the PAC may not seem like it would matter, but when added to the potential contributions of more than 7,500 other MNCPA members, we have great strength in numbers. You can do your part to sustain these efforts.
Contact Geno Fragnito, MNCPA director of government relations, at gfragnito@mncpa.org if you have questions or would like more information about legislative issues or the MNCPA PAC.
Do your part and help the MNCPA and its government relations team efforts to advocate on our behalf.
Make a PAC contribution
Visit
www.mncpa.org/pac to make a contribution.
