P A Y R O L L C O M M I S S I O N
Created in the 2019 Long Session's "Implementer"
Fast forward to Sec. 385. (HINT: Start at the end.)
This is one way to go about restructuring the tax system.
I noticed this bill, and assumed this precise thing would happen: https://www.cga.ct.gov/2019/TOB/s/pdf/2019SB-01143-R00-SB.PDF
Link on the left, above, to bill that
didn't get to the floor - it had a public hearing; Last section of Implementer - Sec. 385 (right).
First Meeting: http://www.ctn.state.ct.us/ctnplayer.asp?odID=16582
Sen. Fonfara, Rep. Rojas, Co-Chairs. Commissioner Jackson, Rep. Davis, Sen.
Witkos; O.P.M. Secretary not present, but sent a representative. Also, Katey Roy, CT School Finance Project.
Very enlightening. In the sense that it is a
bit of sleeper that we missed in the Implementer. But we are
perhaps correct in thinking that other legislation creating a task force
including A.C.I.R. under-cut school reorganization ideas.
WATCH THE PRESENTATION!!!
Making another avenue for the C.S.F.P. research outside its familiar area to be employed. We watched it live July 31st. Twice.
WHY SCHOOL FINANCE PROJECT IN THIS?
this may not have legs because it is so complicated. Plus,
Commissioner covers his back - data from SALT impact won't be available until next year.
right, first speaker goes over taxes paid and what might be changes
with a payroll tax. She notes that this would work whether or not
SALT goes away.
- Our bottom line: It can work but they don't have the real data.
- Is this a workaround? No. It is a payroll tax which is allowed by I.R.S. code.
- Lowering income - for wage and non-wage workers. I.R.S. can't touch it.
- Non-profits? Phase-in? "Calculator" should be developed.
- CT used to have a separate tax structure for wage-non-wage.
- Presentation does not involve SALT v. standard deduction