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Chair outlines Alabama budget and tax structure, says state remains low‑tax but constrained on new spending
Summary
Chairman Garrett presented an overview of Alabama's budget structure and tax mix, highlighting large reserve balances and that income taxes supply the bulk of the Education Trust Fund revenue while the combined state/local sales tax rate is relatively high.
Chairman Garrett gave a detailed presentation on Alabama budget and tax facts, describing the Education Trust Fund (ETF) and other state accounts, revenue sources, tax‑structure comparisons with neighboring states and recent tax actions.
Garrett said the Education Trust Fund’s annual appropriation base is about $10.6 billion, and he listed reserve and special funds beneath the ETF: an Education Opportunity Reserve Fund (about $1.2 billion), a Budget Stabilization Fund (about $823 million) and…
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