Here are the major elements
of the compromise tax package

2001-02

02-03

03-04

04-05

05-06

Impose statewide half-cent sales tax effective 
Oct. 15; it then becomes a local option sales tax

$246.3

$398.7

  local
option

  local
option

  local
option

Repeal local government
reimbursements effective July 1, 2003

$333.4

$333.4

$333.4

Hold local governments harmless
after repeal of state reimbursements

($23.3)

($19.1)

($15.6)

“Back-to-school” sales tax holiday effective 2002

($8.3)

($8.6)

($9.0)

($9.4)

Tax satellite TV at 6% effective Jan. 1

$9.8

$21.7

$22.9

$24.1

$25.3

Raise income tax rate for couples with incomes over $200,000 from 7.75% to 8.25%

$125.5

$102.9

$61.6

  sunset

  sunset

Increase standard deduction for couples

($9.7)

($32.0)

($45.0)

($45.8)

($46.5)

Increase child care credit

($19.8)

($54.8)

($55.0)

($55.3)

Repeal child health insurance
credit effective 2001 tax year

$18.9

$18.9

$18.9

$18.9

$18.9

Tax HMOs/Blue Cross at 1% effective 2002

$33.8

$30.6

$33.2

$35.9

Impose 6% sales tax on liquor effective Dec. 1

$11.9

$24.7

$25.6

$26.6

$27.6

Reduce excise tax on liquor
from 28% to 25% effective Feb. 1, 2002

($3.5)

($10.9)

($11.4)

($12.0)

($12.6)

Remove $1,500 cap on sales tax
on new vehicles

$1.7

$2.4

$2.6

$2.7

$2.9

Tax out-of-state long distance
phone calls at 6% effective Jan. 1

$34.4

$87.9

$87.9

$87.9

$87.9

TOTAL REVENUE GENERATED

$435.3

$620.0

$440.4

$385.9

$392.5