Would higher taxes mean fewer doctors? Some fear increase could dissuade physicians from moving to state
A state bill that would increase taxes for high-income earners might be stalled, but it still could negatively impact the state’s doctor shortage.
Senate Bill 56 was introduced this legislative session in an effort to generate additional revenue for the state in the wake of a $2 billion budget shortfall caused by the COVID-19 pandemic. In order to avoid imposing furloughs or layoffs for state employees, the bill proposed a series of increases to high earners’ income tax, the capital gains tax, the corporate income tax and conveyance taxes.
