The Senate had changed Sen. Rob Marionneaux’s, D-Livonia legislation, which would repeal the personal and corporate income tax. The Senate voted for a study to repeal the tax instead of an outright repeal. Opponents of the legislation are concerned about the massive cuts or other revenue measures that would be necessary if the tax would be approved.
The committee decided to maintain the study but to start a ten-year phase-out of the personal income tax starting in 2014 regardless the results of the study and a commission’s recommendations.
The House Committee legislation also eliminates the corporate tax from the repeal legislation. The House is considered to be the more conservative of the two Houses, both controlled by Republicans.
The repeal legislation heads to the House for debate. Governor Bobby Jindal has been mute on the legislation however, some politicos claim he favors maintaining the tax.
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