An excise tax on manufacturing equipment was eliminated on the revenue package approved by the House Finance Committee. The committee also raised the zero level for income tax to $17,500 for families of three. This would be phased in over a three year period. Now families earning less than $15,500 are exempt from state income taxes. Currently, mills purchasing production equipment pay 2 per cent excise tax per machine with a cap of $80. Elimination of this tax be especially helpful to start-ups, the HTGAC has argued in the Legislature.