The Knesset Finance Committee has approved a bill by Finance Minister Moshe Kahlon (Kulanu) and the Tax Authority, to reduce taxes for residents in Eilat.
Currently, anyone who lived in Eilat for the entire fiscal year can receive a 10 percent reduction in taxes for the same year, up to a total income of 241,080 shekels ($61,700 US). It also only applies to money earned for work done in or around the city.
The proposal would expand this program to also include money received from former employers or pensions.