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GOP legislative tax and jobs proposals
- Updated: March 21, 2012 - 9:34 PM
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SENATE
• Eliminates marriage tax penalty for one year.
• Phases out the statewide business property tax.
• Increases the "angel investment" tax credit.
• Exempts medical devices from taxes.
• Raises cigarette taxes $2.7 million.
HOUSE
• Freezes statewide business property taxes for a year.
• Phases out business property taxes over 12 years beginning in 2014.
• Reduces the renters credit nearly $70 million.
• Retools tax breaks for foreign operating companies.
• Creates a tax credit of up to $14,400 for businesses that hire veterans who are disabled, unemployed or receive food stamps.
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