Income-tax rollback vote fails

Submitted by Judy Meredith on Tue, 04/26/2011 - 1:57pm

Two local Democrats joined House Republicans in a failed attempt to cut the state income tax to 5 percent over three years, as debate on the House budget got under way yesterday… Democrats estimated that the state would lose out on $370 million in tax revenue by rolling the income tax back to 5 percent. Over time, it could lead to losses of nearly $1 billion in tax revenue. [Full Article: Lowell Sun]

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