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Two Years of Reduced Income Taxes Creates Funding Gap

The state has reduced income taxes the past two years and legislators are now trying to figure out how that revenue will be made up.

Tom Moxley
Tom Moxley

“Because we are basically bankrupt in 18 months all of us are looking for, how will we make up the revenue loss that was given when major tax reductions were given the last two years,” explained Tom Moxley, Representative of the 68th House District.

Moxley further explained that you can only borrow and spend for so long and that’s especially true in the state.

“Everybody’s kind of looking over their shoulder, is my ox going to get gored, is it going to end up on property tax or on farmers or just who is going to suffer with the next tax increase.”

Moxley said a tax increase will happen.

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