BEDC Survey: Don’t Raise Income Taxes
16 Sep 2020
News
The Bloomington Economic Development Corp. has joined the list of government bodies and organizations asking Bloomington City Council to vote down the local income tax increase proposed by Mayor John Hamilton.
Since the COVID-19 pandemic hurt multiple sectors of the local economy, Hamilton proposed a tax increase in a July speech to 0.25% for economic development. The increase would bring the local income tax rate to 1.595%, and generate more than $4 million of revenue annually for the city.
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