Cue the Imperial March
Mark Binker has all the gory details about the latest step toward a budget deal. Check his post for the skinny on what’s happening after you look at the highlights below with some perspective from Becki Gray. If you’re on Twitter, follow Mark @binker. According to Mark, the proposal includes
- A two percent (2%) surtax on personal and corporate income taxes, meaning an additional $20 for every $1,000 in taxes paid. Individuals earning $100,000 and married folks earning $200,000 get hit.
- A 3/4-cent increase in the sales tax, taking the rate to 7.5 percent in most of the state.
Becki has it at 1/2-cent - $100 million in new sin taxes, including a 15-cent per pack increase in tobacco taxes. Becki adds that the beer tax will be two cents per can/bottle
- The affiliate tax remains
- Binker says there are no other new taxes,
but Becki has seen mention of a three percent (3%) surtax on energy plus higher taxes on all forms of entertainment except rounds of golf
There is no need to raise taxes. It just takes some can-do spirit from our state legislators.
UPDATE: Includes new information from Scott Mooneyham (who is not on Twitter).
