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Ways and Means previews budget with $211 million in new income tax relief, $666 million in new recurring revenue
Summary
The House Ways and Means Committee chair framed the upcoming budget as focused on tax relief, targeted investments, and fiscal restraint, saying the plan includes $211 million in new income tax relief, $666 million in new recurring revenue and $1.25 billion in one-time funds.
The chairman of the House Ways and Means Committee opened the committee’s budget presentation calling it “the proverbial budget roadshow,” and outlined priorities of tax cuts, targeted investments and responsible budgeting for the coming fiscal year.
The chair said the package includes $211,000,000 in new income tax relief and over $1 billion overall in tax reductions in this budget cycle; if no other changes occur, the top income-tax rate would fall to 6 percent under measures in…
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