Politics & Government
8:58 am
Tue June 4, 2013

Majority of Proposed State Tax Cuts Would Help Those Earning More Than $100k

Proposed state income tax cuts would mostly go for higher wage earners.

A new report, released by the Legislative Fiscal Bureau, shows the majority of  a proposed state income tax cut would help anyone earning $100,000 plus.

The non-partisan analysis of the Republican backed tax cut shows that once it is fully implemented in 2015,  about 60 percent of the cut would help anyone earning more than $100,000. Those earning $200,000 plus would get 27 percent of the proposed cut. The plan would combine tax brackets and cut tax rates over the next two years.