Lawmakers are close to a deal on the governor’s tax cut plan.
Senate leaders made a few changes to Governor Scott Walker’s proposal to cut property and income taxes. They want to reduce the structural deficit from $807 million. Members of that chamber have tentatively agreed to move $117 million from the state’s rainy day fund for that purpose.
Senate Majority Leader Scott Fitzgerald (R-Juneau) says that was a big sticking point. “The concern was … a lot of members of my caucus ran on the idea that we eliminated the structural deficit.”
AUDIO: But, he says, that deficit continued to increase, starting with the biennium budget bill. :31
The Joint Finance Committee is scheduled to work out a compromise on the $504 million tax cut plan Wednesday. Fitzgerald says the Senate will likely approve whatever comes out of that budget writing committee. He expects his chamber to vote on the measure March 4th.