Sen. John Marty Statement on S.F. 60
“When Republican legislators introduced S.F. 60 to begin addressing the $6 billion budget deficit, they proposed over $100 million in tax increases on renters, and cuts in local government aid that will lead to at least $300 million in property tax increases. Despite their rhetoric about “no new taxes”, these are very real tax increases. And, unfortunately, they will hit lower and middle income families disproportionately harder than the wealthy.
Just one week ago, the Republicans introduced their top priority, Senate File 1, which contained as much as $200 million in tax cuts for corporations, including corporations based in other states and countries. Remember that many corporations are currently seeing historic profit margins.
I question the Republicans’ logic, and the fairness, of cutting taxes for corporations while raising taxes on homeowners and renters who are struggling to make ends meet.”