Republican state Senator Aric Nesbittsponsored the bill. He says neighboring states have lowered their corporate income tax rate.
“This is something where, you look at the overall tax cut, the vast majority of it’s going to working families. The vast majority of it is. This is about competing and winning against other states next to us.”
But Senate Minority Leader Jim Ananich says the income tax cuts would have a minimal impact on families.
“The tax cut alone is about 50 cents a day. So that is, you know, I mean we’ve seen commercials on television that raise more money for families than this tax would do.
The bill also includes a $500 credit for each qualified dependent.
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