The loss of revenue from the tax cut was only $575 million in 1995.
Yet the revenue loss to the city would be significant.
The revenue loss would be $1.2 billion over 10 years.
The revenue loss would be less than $400 million a year.
But the loss of revenue is not only through lost sales.
First Bank does not expect any loss of revenue from the deal.
Now they are coming due, and next year the new loss of revenue will amount to more than $300 million.
That loss of revenue has been a driving force behind the growing call for changes in the system.
The income tax would be raised to make up for the loss of revenue.
The loss of revenue could not be offset by lower costs.