Who would have guessed back in 2015 that the income tax reduction trigger crafted to give Republicans political cover during the gas tax hike vote would ever be activated? After all, we're talking about General Fund revenues being 40% higher than the rate of inflation based on whatever came into the state in FY 2021. Activating this trigger could only happen — realistically — if something cataclysmic happened in FY 2021 … and, amazingly, that happened with the COVID-19 fall out. General Fund revenues slowed down. In the years that followed, federal money helped bolster GF revenues to record levels.
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