Jeanne Lambrew

April 21, 2017

The latest on tax reform

The Legislature has completed its second full week of work, and no progress has been made on fixing either the $440 million shortfall for the coming fiscal year or the nearly $1.4 billion “fiscal cliff” the state is facing when temporary taxes expire in June of 2018.

Number of the Day

$1.5 billion - Cost to the state in FY 2019 if the sales tax rate was reduced to 2.03 percent and various exemptions were repealed. (Source: Legislative Fiscal Office analysis of HB 220)