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Finance chair says SB 3125 stabilizes budget; lawmakers raise reservations about solar tax credit
Summary
SB 3125 was presented as a budget-stabilizing package that preserves tax cuts for most residents while raising revenue from the top bracket and sunsetting some tax credits. Several members voiced support with reservations, especially about retroactive changes to the renewable energy tax credit.
Representative Todd, the finance chair, framed SB 3125 as a legislative response to a multibillion-dollar budget shortfall driven by revised forecasts and federal changes. He said the bill balances revenue and protections for the social safety net while preserving many earlier income-tax cuts for working families.
"Through the bill…
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