Majority members of the state senate have spent two days identifying the top issues they want to see passed in next year’s session. Tax issues are at the top of the heap.
Republicans outnumber Democrats more than 2-1 in the Senate. But in the last two years, factions within the majority party have limited accomplishments. Incoming Senate leader Tom Dempsey of St. Peters has called the meeting to find some consensus on top issues, although differences in approach might remain.
He says Republicans want changes in the tax reform system to make sure any credits are generating enough jobs to justify their existence. But Dempsey says tax reform also has to include changes in the income tax. But his caucus hasn’t reached a consensus on which changes to make.
Dempsey thinks the lost revenue from the income tax reductions can be made up by the money saved in limiting tax credits.
He says several ideas for tax credit changes and income tax changes are on the table.