The most sensible new source of state revenue would be higher personal income tax rates.
It will not raise income tax rates, personal or corporate.
In January 2005, the personal income tax rate was reduced to 24%.
Its centerpiece is a 10-percent reduction in personal income tax rates.
Another shift occurred in 1993, when the Clinton administration increased the top personal income tax rate by 20 percent.
He said it would raise enough money to cut personal and corporate income tax rates.
The tax plan would reduce the city's personal income tax rate by 1 percent a year for three years.
Here is the proposal: Leave the 1987 personal income tax rates in effect for 1988, 1989 and 1990.
Between 2005 and 2008, the personal income tax rate was reduced from 26% to 21% in several steps.
But their personal income tax rate has gone down to 40 percent, and that means a lot.