ND Legislature mulling tax-cut measures

Associated Press

BISMARCK, N.D. (AP) — North Dakota lawmakers will be considering a number of proposals this week to cut taxes.

They include bills to reduce corporate and individual income tax rates and provide a tax deduction for college student loan payments.

The North Dakota House's Finance and Taxation Committee is taking up several of the bills Monday.

Republican committee chairman Wes Belter of Fargo says North Dakota's budget surplus has helped spur enthusiasm for tax reductions. He's hoping they will counteract other proposals to raise state spending.

Both Republicans and Democrats have tax-cut bills. House Democratic leader Jerome Kelsh is sponsoring a bill to exempt any individual making $40,000 or less from paying state income tax. Couples who make $50,000 or less would also be exempted.