LAWMAKERS PROPOSE CONSUMPTION TAX
8:20AM Thursday
January 31, 2013

 

TWO REPUBLICAN STATE LAWMAKERS WANT TO ELIMINATE THE STATE'S PERSONAL AND CORPORATE INCOME TAXES. REPRESENTATIVE TOM TAYLOR AND STATE SENATOR BILL SHARER, BOTH OF FARMINGTON, WOULD REPLACE THOSE WITH A CONSUMPTION TAX ... A BROAD-BASED TAX ON SALES OF GOODS AND SERVICES. THEY'RE PROPOSING A 2-PERCENT CONSUMPTION TAX THEY SAY WOULD RAISE SUFFICIENT REVENUE TO GET RID OF INCOME TAXES AND OTHER TAXES ON THE PURCHASE OF CARS, TRUCKS, AND INSURANCE PREMIUMS.

THE STATE IMPOSES A SALES TAX ON MANY GOODS AND SERVICES, BUT TAYLOR AND SHARER SAY THERE ARE TOO MANY EXEMPTIONS AND DEDUCTIONS.

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