Fresh off a friendly "debate" with Gov. Paul Cellucci over plans to roll the state's income tax back to 5 percent, House Speaker Thomas M. Finneran released a mini-manifesto yesterday reaffirming his opposition to the measure.
Calling Question 4 on the November ballot a "high-risk tax proposal," Finneran urged extreme caution in cutting the income tax in the face of unrest in the Mideast, transition in the White House, volatile fuel prices and the hiccupping stock market. "I support a reduction in our income tax rate to 5 percent," Finneran said in a statement released yesterday. "We do not, however, agree that a blind, rigid and reckless rush to the 5 percent rate is wise policy."
The speaker is pushing for a House-approved plan that would tie a gradual reduction of the rate to key economic indicators. Cellucci, however, has argued that taxpayers can't afford to wait for the full Legislature to sign off.
The governor's Saturday debate with Finneran on WLVI-TV 56 was cordial, though Finneran called Cellucci's claim that the state has $4 billion in cash reserves a "fatally flawed argument."
Others say the tax cut would benefit the rich and that the $1 billion saved should go to education.
"The loony left must be pulling their hair out over Speaker Finneran's debate performance," said John Brockelman, executive director of the state GOP. "He wants to go back to 5 percent. And he agrees it's a break for working families and it keeps out economy competitive. With friends like him, why does 'No On 4' need enemies?"