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Debate Begins On Surtax Segregation, Impacts

Chris Lisinski1/24/23 4:57 PM

Revenue Commissioner Geoffrey Snyder told budget-writers that his office expects the surtax to generate between $1.445 billion and $1.766 billion in fiscal year 2024, which starts July 1. [Sam Doran/SHNS]

With annual revenue estimates surpassing $1 billion per year for a new surtax on the state's highest earners, policymakers should consider partitioning the money in its own standalone account to ensure it gets spent as voters intended, independent budget experts said Tuesday.

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