Obligatory business tax update
- City Council passes a measure to reduce the BPT but not eliminate it. The margin of passage is not veto-proof. Opponents claim that Council is on a holiday spending spree, and that other taxes will go up when budget time comes around.
- Street intends to veto the newly passed measure. He's particularly annoyed that this discussion is taking place in a vacuum, before the announcement of the new budget and 5-year plans.
- Ben Waxman at YPP thinks that the current state of BPT discussions/amendments indicates that Council has decided not to pursue this issue seriously for now, and/or that it has been neutralized as an issue in the 2007 mayoral race... There's still theoretically a special session next week at which this could be discussed, though, so well have to see whether he's right.