An Act Eliminating State Taxes Or Fees For Which Collection Costs Exceed The Revenue Received.
If enacted, SB00072 could significantly impact the state's financial landscape by evaluating the viability of various taxes and fees currently imposed. This action would require a reassessment of which taxes and fees contribute positively to the state's revenue without incurring excessive administrative costs. Consequently, it might lead to the removal of redundant or low-yield revenue streams, which would simplify state tax structures.
SB00072, titled 'An Act Eliminating State Taxes Or Fees For Which Collection Costs Exceed The Revenue Received', aims to amend the general statutes by eliminating any state tax or fee where the cost of collection is greater than the revenue that is collected. The underlying purpose of the bill is to streamline state financial activities and ensure that resources are allocated more efficiently, thus potentially reducing the burden on state agencies tasked with collection duties.
One of the primary points of contention surrounding SB00072 may include debates over which specific fees and taxes should be subject to elimination. There may be opposition from those who argue that certain charges, regardless of their collection efficiency, play a pivotal role in funding specific programs or services. Additionally, there could be concerns about the potential impact on state funding for essential services that rely on these revenues, raising questions about the balance between fiscal responsibility and public service funding.