House Bill 531 would:
- Eliminate state income taxes for most taxpayers in 2023 and phase it out totally within about a decade
- Increase the sales tax on most retail items from 7% to 8.5%, an increase of 20%.
- Cut the grocery tax eventually from 7% to 4%
- Cut car tags in half, by using state tax dollars to subsidize local government car tag fees.
Senate Bill 3164 would:
- Phase-out the 4% state income tax bracket over four years. This would mean people would pay no state income tax on their first $26,600 of income, a savings of about $50 a year.
- Reduce the state grocery tax from 7% to 5%, starting in July.
- Provide up to a 5%, one-time income tax rebate in 2022 for those who paid taxes. The
rebates would range from $100 to $1,000.
- Eliminate the state fee on car tags going into the general fund, which would be about $5 off the cost of a new tag, $3.75 for renewals.