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Committee advances two-phase income tax cut reducing top rates to 6.6% then 5.9%
REVENUE & TAX - SENATE · February 4, 2019
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Summary
The committee approved SB211, a two-phase income tax bill that lowers the top bracket rate to 6.6% in the first year and to 5.9% in a later year while adjusting middle-table rates and indexing for CPI; the sponsor described the measure as the product of negotiation and compromise.
Senate Bill 211, a multi-part income tax bill described by the presenter as a negotiated, two-phase measure, was advanced by the Senate Revenue & Tax committee.
The presenter summarized the bill’s principal provisions: a two-stage reduction in the top income tax rate — to…
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