In the wake of recent turmoil sparked by the anticipated 20% rise in property taxes, the urgent need for innovative cost-containment measures has become increasingly important. The Senate expedited the passage of a bill that allows school boards to delay budget votes and replace the 5% property tax increase cap with a discount system. However, top lawmakers have acknowledged that these measures are only temporary fixes and a broader solution is needed to address the issue comprehensively this session.

Despite statewide affordability concerns, discussions in the tax committees have continued on other potential tax increases including:

• A tax on the personal income of a tax filer (single or filing jointly) earning over $500,000
• A tax on unrealized personal gains
• A tax on the gross sales of streaming services
• A tax increase on the USF fees in telecommunication bills