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House Bill 1002 passed on a 71 to 20 party-line vote. It represents a quarter of a percent income tax cut. But, the bill is unlikely to go anywhere – for the moment – as Senate leaders look to use their support for the measure as leverage on other legislative priorities.
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Gov. Kevin Stitt says he is considering calling lawmakers into another special session on tax cuts early next year.
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The proposal would give renters a cash rebate of up to 10% on rent paid in the last tax year.
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Many rural businesses and farms will benefit from the tax overhaul passed Wednesday by Congress. But there’s a catch: If the changes fail to spur...