Senators move up vote for tax increase to this afternoon - KUAM.com-KUAM News: On Air. Online. On Demand.

Senators move up vote for tax increase to this afternoon

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Senators have pushed-up the vote on the tax increase bill to this afternoon. Speaker BJ Cruz sent notice that the legal review of the bill is expected to be done today, and he has scheduled special session to reconvene at 4:30pm. 

The measure to be voted on temporarily raises the Business Privilege tax from 4% to 5% until September 30. It would then revert back and be replaced by a 2% general sales tax. The bill also required the governor to submit a fiscal realignment plan designed to slash $30 million in spending.

The Calvo Administration and the Guam Legislature have been battling for weeks over various proposals to address a projected $67 million revenue shortfall.

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