GOP legislative tax and jobs proposals

  • Updated: March 21, 2012 - 9:34 PM

 

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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