Senate committee considers tax hike tomorrow

In a 1:30 P.M. meeting tomorrow afternoon, the Senate Tax, Business, and Transportation Committee will hear HB 291, a tax hike bill. The bill would raise the top income tax bracket rate to 6.5% from 5.9%. It would also allow an annual increase of 10% of the property taxes on residences that are not occupied as a principal residence by the owner. Annual property tax increases are currently capped at 3%.

You can watch the committee meeting webcast here, or email the committee members for public comment.

The Rio Grande Foundation has submitted testimony in opposition to HB 291.