He told Variety that the Senate proposal to increase taxes and reduce rebate rates should not be included in his bill.
Cabrera said he believes businesses will still renew their licenses despite an increase in fees.
What will make them think twice, he added, are increases in wage and tax rates, he added.
According to Cabrera, over 3,000 businesses renew their licenses annually.
He estimates that the government can collect up to $2 million in additional revenue once the fee hike bill becomes law.
He said his proposal will not place a heavy burden on businesses.
The House of Representatives on Friday referred H.B. 17-40 to the Ways and Means Committee after it was transmitted by the Senate with a lot of amendments, including tax increases.
Cabrera said he wants to hear from the public, especially the business community, which opposes his bill and its Senate version.
He said he wants to meet with Saipan Chamber of Commerce executive director Kyle L. Calabrese so they can discuss the legislation before the House acts on it.
Cabrera said if other members of the Legislature think there is a need to increase taxes, they should come up with their own bill.
He suggested, however, that before drafting a tax increase proposal, lawmakers should get a report from the Department of Finance in order to have a clearer view of the anticipated revenue.
