They have been trying for three weeks to get a big tax increase through, and have been unsuccessful. The gap between the Governor's spending plan and revenue projections is still around $1.7 billion.
About a week ago, there had reportedly been an offer of a compromise: $600 million in new taxes, $1 billion in budget cuts. The Governor's response: no dice. She was apparently unwilling to go any further than a mere $300 million in cuts. So, here we sit day after day, at an impasse. We have one day left before the beginning of the new fiscal year.
This is where the "creativity" comes in. If you are unwilling to make any cuts and you want to raise revenues without a tax increase, what to do? I have one word for you: FEES. Watch for new and increased fees for just about any business activity you can think of. Our friends on the other side of the aisle can get very creative when it comes to finding ways to separate you from your hard-earned money.
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