Tuesday, May 01, 2007

Prague and taxes...

State Sen. Edith Prague, D-Columbia, has canceled her scheduled press conference in Norwich this afternoon. Prague had called the press conference to tout the Democratic state budget proposal, specifically the part of the Democratic plan to implement a graduated income tax rate where higher income earners would pay a higher income tax rate.

Her office offered no explanation as to the sudden cancelation, nor was any date announced for it to be rescheduled.

Here basically is what is being discussed up in Hartford.

The governor wants a 10-percent across the board increase in income tax rates to finance her plan to dramaticly increase education aid.

The Democrats are proposing an increase in education aid - but not quite as dramatic as the governor's - and implementation of a graduated income tax rate where higher wage earners pay more.

Republicans in the legislature have put forth a plan to increase education aid - again not as much as the governor's plan - using the state surplus and thus avoiding any tax increase.

What they ultimately decide on doing will probably not resemble any of the three proposals as they are now being offered - but rather some sort of compromise.

What do you think?

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