Tax Relief Budget Proposal, FY 24-25

Posted on May 2, 2023


House Republicans proposed their two-year state budget plan on Tuesday morning. The balanced budget proposal is comprised of broad-based tax cuts, totaling over $1 billion, and funds core government services.

Click here to review the news conference in its entirety.

Tax Relief Budget…

The document champions historic funding levels for education and nonprofit organizations, strengthening the safety net and ensuring social services are readily accessible to residents who will greatly benefit from them.

Additional highlights of the plan include:

  • Retroactive middle class tax cut
  • First time child tax deduction ($2k per child)
  • Eliminate tax on children’s clothing under $100
  • Establish phase-out threshold tax on retirement income
  • Reinstate Transportation Strategy Board
  • Fully funds special education grants

Click here to learn more about the proposal.