It’s even worse than we thought. Where Gov. Perdue would have raised state taxes $500 million in FY’10 and $667 in FY’11 Gov. Perdue proposed, the Senate raises state and local taxes $618 million and $852 million* in FY’11. So it goes from a $1.2 billion increase over two years to a $1.5 billion increase over two years.
Binker has all the details, including documents and Sen. Dan Clodfelter’s 45-minute explanation.
As John Hood suggests this morning, legislators should balance the budget without raising taxes then look at real reform in a better fiscal environment.
*Corrected
