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Yesterday afternoon the House Majority Caucus offered a suggestion for tax cut package. It’s not bad, but it’s not a slam-dunk either. Apparently, it is based on an op-ed piece in the Salt Lake Tribune. All parties still need to give the numbers a cautious squint to see if it makes sense. Staffers are working on the analysis right now.

The Senate Majority is going to hold a quick caucus meeting this afternoon to discuss the latest and, perhaps, work on a counter proposal.

Proposal and counter-proposal are steps in the legislative budget dance. We’ll do it over and over until we find a plan that lines up the magic numbers (38, 15, and 1).

1 Comments:

 Anonymous said...

Republicans in House put $208M offer on the table
Article Last Updated: 02/14/2007 01:22:56 AM MST

With new revenue numbers in hand that push the state's surplus to $1.7 billion, the House Republican caucus approved a compromise offer to Senate colleagues that would increase tax cuts to at least $208 million. Though many members want a much higher cut - as high as $300 million - they agreed to offer the $208 million cut from income and sales tax as a starting point for negotiations with the Senate. Also under discussion are business tax cuts that would push the figure to at least $225 million. "It has some specificity that makes it something we can at least consider," Senate President John Valentine said of the House plan. "It's lacking on impacts." Senate leaders, despite the steady growth in tax revenues, want to stick to an earlier $210 million deal with House leaders that would allow each chamber to steer $105 million in cuts, said Senate Majority Leader Curt Bramble. Valentine said the senators likely would take issue with the House's call to cut the state sales tax on food from 2.75 percent to 0.75 percent, because it would undercut revenue stability. "That's going to be a sticking point with the Senate," he said.

2/14/2007 11:06 PM  

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