A new election-year tax reduction plan is on the table as Republicans and Democrats at the state Capitol jockey for tax-cutting credit. The House GOP plan would up the tax cut ante by reducing the state income tax rate every year for the next six years. That would cut taxes and projected revenue to the state by $1.8 billion dollars.
Republican state Representative Nancy Jenkins sponsored the rollback. She said, “We put some money into the ‘rainy day’ fund. We’ve paid down some debts. It’s time now to give some money back to the taxpayers.”
“Well, because it’s done incrementally each year, we can look at it each year and if there’s a problem, we can address it at that time,” said Jenkins.
The House has already voted to accelerate a tax rollback this year. Democrats say the bigger tax cut was their idea first – and it should happen sooner.
Katie Carey is the press secretary for the House Democrats, she said, “there are good ideas coming out from our side of the aisle and, instead of working with us to get those passed into law, instead of the House Republicans are choosing to play politics and give it to one of their own members,”
Carey said, “we feel that the House Republicans are trying to play politics with tax relief when middle-class families need tax relief right now.”
She says that does not mean Democrats will necessarily support the GOP tax when it comes up for a vote.