Two Year Income Tax Break Proposal

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Two Year Income Tax Break Proposal

Posted:

By Donnell Preskey, Assistant News Director - email

Bismarck, ND -

North Dakotan's should be allowed to keep more of their money since the state has a large surplus.

That's according to Minot Representative Scott Louser.

Louser is proposing an income tax break for two years.

He says it may prove to lawmakers the state doesn't need a personal income tax.

His bill would suspend income tax in 2013 and 2014 -- to at least give the idea a try.

Louser says, "It's big, bold and aggressive. It's big with a cost of $1 billion. It's bold in that addresses the full tax. It's not a reduction in rates, it addresses all five brackets and it does so for two years."

Seven states have no income tax.

Louisiana and Nebraska have recently proposed eliminating income and corporate taxes.

A spokesperson for the Greater North Dakota Chamber opposed the bill, saying the organization would support a plan that also gives corporate tax relief.

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