Report: 'Tax break delay goes to House'

From The Advocate:

The Senate advanced a controversial measure Wednesday that would generate more money for higher education by delaying a tax break.

The Senate voted 29-9 in favor of sending the legislation to the House, where many lawmakers warn it will be defeated.

Senate Bill 335 by state Sen. Lydia Jackson, D-Shreveport, would freeze the amount of federal excess itemized deductions that state income tax filers can deduct at current levels through 2011. Instead of being able to claim 100 percent, tax filers would only be able to claim 65 percent.

The savings to state government would be $118 million.

Gov. Bobby Jindal is vowing to veto the legislation. Many in the House have said the bill is dead on arrival.

More…

RSS feed for comments on this post · TrackBack URL

Leave a Comment