In October, state legislators held a tax summit and a week later held a spending summit. Charlie Arlinghaus’s presentations to each gathering are attached here. Arlinghaus outlined the state’s only two successful modern attempts at tax reform in 1970 and 1993 and warned legislators that reform attempts will only be trusted if revenue neutral. At the spending summit, he pointed out a $200 million deficit in the current budget and warned about a $625 million deficit lurking in the next budget.

Spending Outlook

 

Taxes and the Economy