Lawmakers dissolved back into committee of the whole to tackle Bill 186-35 or the fiscal year 2020 budget bill.
Office of Finance and Budget Director Stephen Guerrero provided an overview presentation of the budget bill before senators tackled the over 500-page document.
Guerrero also included a better comparison between income tax versus the business privilege tax for fiscal years 2018, 2019 and 2020.
He noted the massive $138 million drop in income tax between FY18 and FY19, due to the Trump Tax Act. He also pointed out the opposite occurred with the business privilege tax.
“It started out at $259 million and rose to $314, which is about a $50 million increase over one year. And over to 2020, we see a slight increase of about $4 million between FY19 and 2020,” he said.
Prior to discussion on the budget bill, senators also passed a number of items in the voting file to include Bills 135 and 140 and several nominations for various boards. Session resumes tomorrow at 9 a.m.