The income tax, it's never been 3.5%. Right now it's 3.79. It's about to go 3.74. It's about to go to 3.49. And, and they're saying that If we go into a recession that we can't raise the tax higher than 3.5%. If we were in a recession likely, what we would do is we would say, well, we do need to have some temporary increase in the income tax rate for … (00:28–00:34)
STATEMENT
Asserts that the proposed amendment would cap income tax increases during a recession.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.