
55:51 - 56:23
"we are looking down the barrel of an incredible amount of budget cuts next year, and we really do have to find the balance. I don't think it's going less, and I don't think it's removing the cap altogether, but I frankly would be comfortable with a higher number than 30 even."
“we are looking down the barrel of an incredible amount of budget cuts next year, and we really do have to find the balance. I don't think it's going less, and I don't think it's removing the cap altogether, but I frankly would be comfortable with a higher number than 30 even.”
I, I am going to object to this amendment. I think we've discussed a similar one before. Uh, while I did not support the removal of the cap altogether, because I, I do think we have to go about this in a balanced manner, uh, we are looking down the barrel of an incredible amount of budget cuts next year, and we really do have to find the balance. I don't think it's going less, and I don't think it's removing the cap altogether, but I frankly would be comfortable with a higher number than 30 even. I, I think we need to do it balanced, but we also need to bear in mind that we are in real financial trouble.
The Assembly voted 6-3 to raise the vehicle sales tax cap from $14,300 to $50,000 after rejecting proposals to remove the cap entirely. The move is one of several revenue measures officials are weighing to close a $10 million to $12 million budget gap.
