Democratic lawmakers are criticizing a tax cut bill that made it through the state Senate today.
The bill would lower the corporate income tax rate by a little over a third. It would also lower individual income taxes and allow a $500 tax credit for each qualified dependent.
"It’s tone-deaf to where people are at. People are struggling to pay their gas, their groceries. That’s where people are struggling at. If you’re making record profits and you reduce their taxes, that doesn’t do anything for people." said Senate minority leader Jim Ananich.
Supporters of the tax cuts say most of the savings would go toward families and small businesses.
The Senate Fiscal Agency estimates the cuts could reduce revenue by billions over the coming fiscal years.