This bill contains what is left of comprehensive tax reform.  

• Lowers the personal income tax to a flat rate of 4.5% and caps itemized deductions at $8,500 for a single filer and $17,000 for a joint filer; 
• Places the state and local sales tax on private sales of vehicles, boats and planes and requires sales tax to be paid on the labor portion of a vehicle repair;
• Exempts energy used in manufacturing from state and local sales tax; and
• Eliminates the cable franchise fee, telephone franchise fee and sales tax on telecommunications equipment up to $90 million and replaces these revenues with a 3.5% state telecommunications tax and a 3.5% local telecommunications tax on all telecommunication services.