Will the state House come to an agreement on solving a looming one-billion dollar budget deficit as a result of expiring state sales taxes? President of the Public Affairs Research Council Robert Travis Scott says even though Republicans are the majority party in the lower chamber, Democrats are holding firm on their wishes
It’s believed Democrats will agree to a bill that would place the state sales tax rate above four-percent, if Republicans agree to income tax bracket changes or cutting a tax break for middle and upper income wage earners who itemize their deductions. Scott says it appears an agreement can be reached to reduce most of the shortfall.
Tax bills need 70 votes to pass the House. And they will also need Senate approval, before the special session ends a week from today. There was a lot of tension on the House floor on Monday. Chairman of the Legislative Black Caucus Joe Bouie hopes there is a spirit of compromise today.