Jason DeCuir from Advanced Consulting joins the show to discuss various legislative issues with Brian. He highlights the complexity of tax reform, mentioning the hundreds of tax bills to be filed and the need to track each one. He emphasizes the importance of insurance reform and the reformation of the Department of Transportation and Development (DOTD).
The failure of CA-2, a comprehensive tax reform package, is discussed, with Jason noting the misinformation surrounding its implications. Despite its failure, many parts of the tax reform package have already gone into effect, such as reduced personal and corporate income tax rates and the phased-out franchise tax.The conversation shifts to the inventory tax, a significant unresolved issue. Jason explains that local governments need the constitutional authority to phase out the inventory tax, which is currently protected. He mentions new constitutional amendments being filed to address this issue, including options for local governments to control the phase-out process.Jason also discusses the extension of the credit for corporations paying the inventory tax, which is set to expire in 2026. He explains that this extension would allow for a gradual phase-out, giving local governments more time to adjust.
Finally, Jason addresses concerns about the potential impact of local control over the inventory tax on statewide economic development. He acknowledges the complexity of balancing local autonomy with broader economic goals and suggests that careful consideration is needed to ensure that local decisions do not hinder statewide projects.