Gambling Out--Budget Negotiations Go Onby: Jennifer DalerThu Jun 18, 2009 at 09:09:32 AM EDT |
Just read this report by Tom Fahey at the UL. It seems the House side of the committee of conference voted down expanded gambling. The votes aren't there, for one thing, and Finance Committee Chair Marjorie Smith (D-Durham) does not believe it is a long term solution.
"I have no problems with gambling. What I do have a problem with is that I do not believe that gambling is a reliable funding source," Smith said, adding that her preference is an income tax. Representative Dan Eaton (D-Stoddard) confirmed the votes in the House are not there. I cannot count to 201," he said, praising D'Allesandro's dedication. For their part, the Senate refused to allow the estate tax and the capital gains tax to move forward. According to Fahey, the state will tap into the "Rainy Day Fund" and then still have to close a $30 million hole in the present budget. Plans waiting in the wings when talks resume today would close a key business tax loophole, set a new tax on mortgage refinancing, boost the Rooms and Meals tax rate and possibly create a tax on entertainment. If you feel strongly about the refinancing tax, call the Governor and your State Senator and Reps and register your opinion. Once it's put in, it will be very difficult to change down the road. |