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Rep. Kay Christofferson proposes 0.5% income tax cut estimated to reduce budget by about $100M
Summary
Representative Kay Christofferson said she has an income tax bill proposing a 0.5% cut that she estimates would reduce the budget by about $100,000,000; she said executive appropriations will review the numbers once updated budget figures are released.
Representative Kay Christofferson said she is working on an income tax bill that would reduce the rate by 0.5% and that she expects the change to lower the budget by roughly $100,000,000.
"I have an income tax bill to cut about a $100,000,000 out of the budget. It's a it's a point 5% decrease," Christofferson said. She said members of the executive appropriations committee will evaluate whether the reduction is feasible once new budget figures become available the following week.
Christofferson framed the income tax proposal as part of a package of fiscal-accountability measures intended to reduce the tax burden on residents. She did not provide a timetable for a vote and emphasized the proposal's viability depends on upcoming appropriations analysis.
