Wednesday, May 23, 2007

Alert...your taxes are going up tonight


The Democrat leadership called us into session at 1:30 p.m. today.  We have been waiting around ever since.  It is now 6:30 p.m. Rumor has it that tonight we will be voting on any number of possible tax increase measures.

What is of interest is that the House Appropriations committee voted today to pass a supplemental spending bill for this year's budget.  The Senate had sent over a spending cut bill to move toward balancing the $800 million shortfall in this year's budget. But the House committee's version, (HB 4492) is actually a net $69.5 million INCREASE in spending.  The bill is tie-barred to HB 4500, which increases the income tax from 3.9% to 4.6%. (This means the spending bill only goes into effect if the tax bill passes).  There is no telling how this will play out tonight or in coming days.  You can watch House proceedings on the House TV network or check in with my blog for up-to-the minute reports from the House floor.
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