Tuesday, April 27, 2010

Blogislature Update: Tax Bill in Death Throes; End Nigh

Posted By on Tue, Apr 27, 2010 at 1:51 PM

It looks like House Speaker Kirk Adams' big tax-cut plan is on its death bed.

Mary Jo Pitzl lets us know that Senate President Bob Burns showed an admirable admission of fiscal reality:

On Monday, Burns said budget analysts estimate the state will be grappling with deficits for the next three years. If the tax cuts in the current version of HB 2250 were in place, he said, the state would need to see revenue growth of up to 24 percent a year to cover the projected deficit. That is an unrealistic growth rate, he added.

"I think we need to advance very carefully on this," Burns told senators as they met in their Republican caucus. "This is a bill with a potential tremendous impact."

Adams tweeted today that he was starting to lose hope and wanted to wrap up the session.

No longer confident Senate will pass, nor Gov sign, jobs bill with necessary tax cuts. Working towards Sine Die this week.

Cap Times reports that Burns wants to end the nonsense and get done by Thursday.

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