Alabama lawmakers will face decisions for a possible tax rebate as the state sees a budget surplus of more than $2.7 billion.
Alabama lawmakers will face decisions for a possible tax rebate as the state sees a budget surplus of more than $2.7 billion.
Alabama Lawmakers To Consider Tax Rebates
Alabama lawmakers are eyeing possible tax rebates to pass. This includes how much to save and how to spend the rest. The Legislative Services Agency said that the state budget that provides education budget has a $2.7 billion surplus money. The state general surplus fund is less than $351 million.
Sen. Arthur Orr a chair of the Senate education budget committee said lawmakers are working with Gov. Kay Ivey on a proposal including rebate checks to taxpayers, along with tax cuts and putting money in reserves.
Sen. Orr said that lawmakers are considering a total of $500 million for tax rebates. The amount sent back to Alabamians depends on the qualification, but he said they are looking at a minimum of $200 or $250 for single filers and $400 or $500 for married couples who file jointly.
Alabama Would Also Want To Consider r Medicaid Expansions And funding scholarships
In August, the Associated Press reported that 15 states have approved one-time rebates from their surpluses. Disputes among lawmakers raise on how to use the rare surplus. Moreover, According to the Henry J. Kaiser Family Foundation, Alabama is part of 11 states that did not expand its Medicaid program under the Affordable Care Act to provide healthcare coverage to low-income people.
Democratic lawmakers in Alabama called for Medicaid growth, arguing it would bring health care coverage to more than 300,000 people. Several residents don’t have health insurance through their jobs. However, Republicans, who hold a majority in the Alabama Legislature, have so far opposed expansion.
Sen. Greg Albritton, the Senate general fund budget committee, said that he wants to ensure the state has enough in reserves so it won’t face a budget crisis during an economic downturn.
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