Here’s what survived — and what didn’t — in the massive tax package approved by lawmakers:
- Rebates of $500 for individual taxpayers. Married couples filing jointly will receive $1,000 checks.
- Expanded child tax credit that, depending on income levels, could mean a tax break of up to $600 per child.
- A larger health care practitioner tax deduction that will cover co-pays and deductibles.
- Changes to state film incentive program that include gradually increase annual state spending limit.
- Phased-in reduction of state’s gross receipts tax rate.
- 20% increase in state alcohol tax rate.
- Restructured personal income tax brackets intended to benefit lower-income residents.
- Electric vehicle tax credit worth up to $4,000 per vehicle, depending on income level.
- Scaled-back capital gains deduction with an annual maximum of $2,500 per taxpayer.
- New tax deduction of up to $1,000 for school supply purchases by teachers for classroom use.