A Labor Standards Board (LSB) that would be tasked with making recommendations on regulations for several business industries within Minneapolis has been vetoed.

Minneapolis Mayor Jacob Frey has vetoed a city council plan for a controversial "labor standards board," though the council may have the votes to overrule him. Why it matters: The mayor's veto is a sign of how toxic the proposal has become among Minneapolis' most influential business advocates.

The Minneapolis City Council will vote Thursday on whether to create a labor standards board, after years of advocacy from labor groups and harsh criticism from some business owners. The advisory board could recommend new labor policy to the council for consideration.