Tax Insider for February 20
Wednesday’s revenue forecast is a two-ounce pour of wine. If the forecast is positive, it could be enough to convince legislative leaders to deal on tax and budget priorities (or, at the very least, keep hopes alive).
Top Lines
- Wednesday’s revenue forecast could represent one of the most politically relevant revenue hearings in the last decade and fundamentally shape the calculus of tax and fiscal debates.
- The revenue committees discussed pro-growth tax reforms, including repealing the state’s controversial throwback apportionment policy and restoring the research and development tax credit.
- The legislative revenue committees plan to hold their first work sessions of the session next week, which includes a potential vote on the annual reconnect measure.
