State Senator and candidate for Governor Charlie Janssen has released a tax relief plan focused on income and property tax cuts and greater accountability in government spending.
Janssen has incorporated his plan into two bills he’ll introduce Wednesday, the first day of the 2014 legislative session.
“I’ve put 30,000 miles on my truck traveling our state, and the clear message from homeowners, business leaders, farmers and ranchers is that we need tax relief now,” Janssen said. “I know we can get there by making government accountable and regularly auditing for waste and inefficiency.”
Janssen’s tax relief plan includes the following proposals:
Cut income tax rates and adjust tax brackets for inflation
Exempt Social Security and military retirement benefits from taxation
Increase annual funding for Property Tax Credit Program by 30% to $150 million
Reduce agricultural land tax valuation to 65% of market value
Janssen’s plan will also require state agencies to file an additional report with their budget documents that identifies low-utilization, low-priority, and inefficient programs. He will also propose creation of a “Sunset Commission” that targets and reviews expiring and inefficient programs for elimination.
“Making government accountable through a regular audit process is critical to tax relief,” Janssen said. “We’ve done it before to address budget deficits and we can absolutely increase our use of agency and program audits to cut spending.”
The final component of Janssen’s Plan would require the Department of Revenue to contract for new technology to track down non-payers, whose failure to pay costs the state millions in lost tax receipts each year.
“If we can just collect what is owed we can reduce the overall tax burden for everybody,” Janssen said.
To read the tax relief bill, click here.
To read the agency audit bill, click here.