• Increase zero-tax bracket to $25,500

• Cutting the personal income tax rate from 5.25% to 3.99% by             2027, starting with 4.99% in 2022

• Increase child tax deduction by $500 per child

• Phasing out corporate income tax to 0% by 2030

• Eliminated state income tax on military personnel

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2021 BUDGET HIGHLIGHTS

• Spends 25.9 billion in FY2021-22 and 27.0 billion in FY2022-23

• Invests an additional $1.5 billion in K-12 education

   Includes a 5% pay raise for most state employees and an average       5% pay raise for teachers

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• Invests $6 billion in cash to the State Capital and Infrastructure fund     projects and to pay down debt

• Provides 1 billion for broadband expansion Increases school               capital expense to 2.6 billion over next 7 years

 

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