Lawmakers may cut income tax from 7% to 6%

Special To The Chronicle
Posted 2/27/20

As a taxpayer, you might watch to see how your legislator votes on this.

House members propose to send millions to taxpayers, teachers and prisons.

By a unanimous 24 to 0 bipartisan vote, …

This item is available in full to subscribers.

Subscribe to continue reading. Already a subscriber? Sign in

Get 50% of all subscriptions for a limited time. Subscribe today.

You can cancel anytime.
 

Please log in to continue

Log in

Lawmakers may cut income tax from 7% to 6%

Posted

As a taxpayer, you might watch to see how your legislator votes on this.

House members propose to send millions to taxpayers, teachers and prisons.

By a unanimous 24 to 0 bipartisan vote, the House Ways and Means Committee approved proposals to:

• Give $250 million to taxpayers in lower state income taxes and credits.

In what may be controversial, they would set aside $120 million for income tax relief in the 1st of 5 years of lowering the state’s highest income tax from 7% to 6%.

• Give $3,000 raises to every teacher, increase the base student cost to $2,500, and $10 million for more school resource officers.

The starting teacher minimum now is $35,000 a year.

• Send $50 million to a Natural Disaster Resiliency Reserve Fund after years of natural disasters.

• $100 million to the Department of Corrections to improve its facilities.

• Give state employee pay raises, millions for law enforcement recruiting and retention, and higher education tuition freezes.

House members will begin debate March 9.

However the House votes on this must also be approved by the Senate.

Should lawmakers lower the state income tax? Vote in this week’s poll at www.lexingtonchronicle.com.

Comments

No comments on this item Please log in to comment by clicking here