AN ACT REDUCING A MARGINAL RATE FOR THE PERSONAL INCOME TAX AND TEMPORARILY ADJUSTING THE RATE AND APPLICABILITY OF THE SALES AND USE TAXES.
To (1) reduce the marginal rate for the personal income tax to four per cent for working class and middle-class taxpayers, (2) reduce the rate of the sales and use taxes to five and ninety-nine-hundredths per cent for the next fiscal year, and (3) suspend the additional one per cent sales and use taxes imposed on meals sold by an eating establishment, caterer or grocery store for the next fiscal year.
Introduced by:
Sen. Tony Hwang, 28th Dist.
