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Committee asks Joint Fiscal to model income‑tax options to fund education; members warn of competitiveness risks
Summary
The Finance committee asked Joint Fiscal to present models of income‑tax options for education funding, with members raising concerns that required rate increases could double top rates and hurt recruitment of professionals such as doctors.
Speaker 1, Committee member, asked staff to bring Joint Fiscal in to “do a presentation on income tax, what it looks like, how it's structured,” and to model how various income‑tax options would affect education funding and taxpayers.
Committee members framed the request around competitiveness and workforce recruitment. Speaker 1 said a back‑of‑the‑envelope calculation suggested an income‑tax approach "would probably double the income tax rate," and raised the prospect that…
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