Assembly and Senate Democrats Address Budget Differences
Due to differences in the budget bills as passed by the State Assembly and Senate, leadership of both houses will be meeting this week to negotiate the final budget package. The biggest area of disagreement between the two houses is whether to enact a new gas tax or to make all capital gains taxable. Senate Democrats voted to tax all capital gains, which are currently only taxed at 40% of gains, as part of the budget passed last week. Assembly Democrats and Governor Doyle support a new gas tax.
It is not clear yet whether the Democratic leadership will resolve the differences through a conference committee or behind closed doors.