[LWVNM Action] Committee substitute for HB14 - Omnibus Tax bill and the HB2 - the budget

[Richard Mason]

Now that there is a proposed Omnibus Tax bill - Committee substitute for HB14, the Senate Finance Committee will hold HB2 - the budget before sending it to the Senate floor. In order to complete the budget they have to know what the revenues will be and part of the revenue is what will be generated by any new taxes.
There is a good chance the Omnibus Tax package may be budget neutral - expenditures offset by new taxes.
HB14 will be fast tracked through the House and Senate and most likely has the approval of the Governor. Since it includes a new surcharge on oil there may be long debate on the floor of each chamber, But they may have negotiated the package with the minority. 
Stay tuned for a thrilling ride through the last week of the session.
Dick Mason
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